The Rolling Stones recent postponement of their sold out tour of Australia and New Zealand due to the tragic death of Mick Jagger's longtime girlfriend L'Wren Scott will come with a heavy financial price tag for the legendary British rockers and their business associates.
According to an article posted on March 22 at Billboard.com, The Stones' decision to support their grieving frontman by rescheduling several concert dates for the fall could cost the "Satisfaction" hitmakers an estimated $10 million due to staging losses, which can include everything from deposits on venues to lost revenue and gear storage.
Billboard industry sources cited The Stones' massive 14 On Fire Tour travel and transportation costs, which include 60 trucks to move gear, a quarter million for equipment leases, hotels, air fare, road crew costs and numerous other expenditures in calculating the estimate.
Insurance will likely cover a percentage of the losses and Billboard predicts the cancellation will not likely hurt sales for the rescheduled fall dates, which according promoter Michael Gudinski of Frontier Touring in association AEG Live, are being planned for Oct.-Nov. of 2014.
The grieving singer is currently in Los Angeles with family attending to funeral arrangements and the band is not scheduled to perform again until the start of their European leg, currently planned for June 7 in Landgraaf, Netherlands at Pinkpop Festival.
Did you know? The Rolling Stones postponed 15 European dates in 2006 during their A Bigger Bang Tour after guitarist Keith Richards fell out of a tree in Fiji and injured his head. Despite the losses, the tour went on to gross $558 million.