Report: Refunding Michael Jackson tickets to be a 'messy,' 'expensive' process
The repercussions of Michael Jackson's death will have a serious, damaging impact to concert promoter AEG, the full effects of which may not be known for months to come. More than $85 million worth of tickets have been sold to Jackson's 50-date run at London's O2 Arena, which was slated to begin in about two weeks on July 13, according to Billboard's touring guru Ray Waddell.
AEG's yearly financial results may now depend on Jackson's cause of death. One entertainment insurance industry insider says that if Jackson died from a drug overdose or a preexisting condition, the producer could be on the hook for any loss -- which would include any money already sunk into the production, as well as the considerable cost of refunding consumers for the 750,000 tickets already purchased. If Jackson signed a contract saying he would return his advance in the event he didn't perform, the company could end up in court with a long line of other Jackson creditors.