Michael Jackson Cancelled Shows To Cost Millions
By Laura Aguirre
Michael Jackson‘s fans highly anticipated the return of the King of pop when it was announced that he planned a 50-show run at the O2 Arena in London, but after Mr. Jackson was pronounced dead on the afternoon of Thursday June 25th, a major problem has surfaced for the promoter AEG Live, reports Billboard.
More than $85 million worth of ticket sales have already been sold for the series of performances titled This Is It. $30 million has already been spent on pre-production, reported sources close to the situation, therefore this could only mean that AEG, the second largest concert promoter in the world, is in big trouble.
Shows were to begin in July, marking them as the first Jackson solo shows in 12 years. So far, the $85 million taken in from the Jackson show ticket sales will be refunded by AEG Live and Ticketmaster.
But the pop legend didn’t only leave a music legacy and billions of fans, Jackson also leaves behind a hefty debt and a couple of multimillion dollar lawsuits still pending.
Who will this fall down on? Can his family afford such a debt?
Read more about the King of Pop now…
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