AEG in Big Trouble

Michael Jackson’s 50-show run at London’s O2 Arena was set to be the highest grossing single concert engagement if it took place. The concert promoter, AEG Live, went all out on the production and may now be facing some serious financial problems. According to Billboard, AEG sold $85 million worth of tickets along with $30 million spent on spent on production and $10 given to the late singer as an advanced payment. They’re not sure whether nonappearance insurance will cover the unfortunate situation. If the King of Pop died from a drug overdose or a pre-existing condition, the producer will not get reimbursed and will be forced to refund 750,000 already purchased tickets.

Tags: AEG Live, Billboard, Concert, Insurance, London, Michael Jackson, O2 Arena, Pop, singer