CONCERT PROMOTERS MINIMIZED THEIR RISK WITH MICHAEL JACKSON
Photo Credit: Splash News
Michael Jackson turned up at his LA studio to rehearse for his London concerts and he took time to pose with fans and show off his new curly hair. For those who’ve been wondering WHY promoters would invest so much money in Michael’s concerts when it seems so risky, considering his health and past flakiness, the LA Times has the answer. All the money that promoters put up for this series of shows is backed by the value of Neverland and related assets of Michael’s. In other words Michael has put up a LOT of collateral. Jackson stands to take in 50 million dollars for the London shows and promoters hope to extend it to a three year tour starting in Europe, then Asia, and finally the US. So far that’s only in the talking stages.