AEG 'could face £300m Jackson loss'

[0iD]

AEG 'could face £300m Jackson loss'

AEG Live could face a £300 million insurance liability as a result of Michael Jackson's death, it has been claimed.

The concert promoter had said that it would consider "self-insuring" the artist for his planned 50-date residency at London's O2 arena after struggling to find a firm to take on the risk.

According to The Times, the company had placed the first ten Jackson concerts on the London insurance market for a total of £80 million.

That's going to sting a bit.

[Syd]

Ouch, and what are the o2 gonna do with a months worth of space

[DeludedGuy]

I presume part of that £300m would go towards compensating the o2 Arena, much like a hotel would charge you a cancelation fee, either way its bad news for everyone involved, heads will roll.

[Whiternoise]

At least one good thing came out of this - the "official resellers" (i.e licensed touts) haven't come out of this too well

I feel somewhat sorry for those people who paid exorbitant sums of money on eBay for tickets and now have no legal claim to getting their money back. Oh wait, no i don't - silly people (i mean the people who spent upwards of £1k on a single ticket).

[Flibb]

At least one good thing came out of this - the "official resellers" (i.e licensed touts) haven't come out of this too well

I feel somewhat sorry for those people who paid exorbitant sums of money on eBay for tickets and now have no legal claim to getting their money back. Oh wait, no i don't - silly people (i mean the people who spent upwards of £1k on a single ticket).

Ebay annoucement (truncated)
Any ticket purchases made during the last 45 days and paid for with PayPal will be covered by PayPal Buyer Protection. We are reviewing the options for those who bought tickets before May 13th and will update you shortly

Regards,

The eBay Team


Many buyers that purchased before May the 13th also have the option of the small claims court because they havent actually received any tickets yet, they havent been printed.

[Whiternoise]

Last 45 days though, most people bought their tickets ages ago surely?

Heh, makes a change for eBay actually looking out for it's user's interests!

[Yosh]

Last 45 days though, most people bought their tickets ages ago surely?

Heh, makes a change for eBay actually looking out for it's user's interests!

As pointed out by Flibb, those people who bought ages ago still haven't received the tickets if they have not been printed yet, so i guess they will all be able to get their money back through Paypal buyer protection.