Jackson estate faces $300m lawsuit

Superstar's £1bn fortune could be slashed by a third

JACKSON: Estate faces $300m challenge
JACKSON: Estate faces $300m challenge
Image Flag

By James Desborough in Los Angeles, 22/10/2009

MICHAEL Jackson's estate faces losing almost a third of its value in a new lawsuit from a furious concert promoter.

Music boss Patrick Alloco of All Good Entertainment wants $300m ( £210m) from Jacko's estimated $1bn fortune after the gloved one and his managers bailed out on a concert deal.

Respected Alloco is also pursuing This Is It show promoters AEG Live and MJ's manager Frank DiLeo in claims they breached a $24m ( £18.6m) agreement.

All Good lawyers have paperwork showing that DiLeo acting for Jacko agreed to a summer 2009 comeback show at the Dallas Cowboys stadium in Texas.

The suit claims Jacko breached their deal by signing with AEG for his London gigs and committing to money spinning film, DVD and CD deals.

In early June the firm filed a suit against Michael Jackson, AEG Live and Frank Dileo for $40 million (£32m) over the missed concert.

But it amended the claims in a New York federal court, insisting All Good had lost out on the same cash advantages.

Execs at All Good told The News Of The World that Jackson would earn $50m ($35m) from the one hour with Pay Per View deals and DVD and CD sales. His AEG deal over nine months would have banked him a similar fee.

The singer demanded that his mum Katherine receive $2m ( £1,4m) before he even took to the stage.

The twenty page document details how Jackson agreed to two concert deals at once in November.

He was due to headline The Jackson Family Reunion: A Concert for the World - alongside his brothers and sister Janet this summer.

Send to a friend

Your comments

This article has 2 comments

poor miss frank L..O...V....E YOU THE BEST BUT MYAXXXXXXXXXXXXXXXXXXX

By mya.. Posted October 30 2009 at 4:50 PM.

poor mlchael all that life Ifllea sorry far hem and evrone huw like him myaxxx

By mya.. Posted October 30 2009 at 4:46 PM.

Post your comment here

Please note: All comments are moderated.
Tick this box to accept our TERMS & CONDITIONS

We have to check every comment before we can allow it to be published. But don't worry, we've got a team on it 24/7 - so check back soon! Please note that we cannot publish all comments received. The editor's decision is final. Please note that your email address will not be displayed next to your comment.
Visit The News of the World website
SITE WEB
We are No1 for Videos
Latest news stories from the News of the World
Take That's Howard Donald smoked cannabis then got dutchy-feely with brunette from Holland Howard strayed from other half for secret duets with a married mum
Venables link with Baby P rap boss Sharon Shoesmith Link between the tragic child death cases of Bulger and Baby P.
I'll give free finance to all and cut 50% tax rate (eventually) *EVENTUALLY. Tory chancellor grilled by NOTW experts.
Killed by cuts Memo shows hell behind shrinking army budgets.
Big Buzz for Pamela Anderson Astronaut thinks Baywatch babe is out of this world.
Adrian Chiles: I'll quit One Show host reveals he might jump before he's axed.
'Patriotic' EDL exposed as racist, violent thugs 'Patriotic' EDL exposed as racist, violent thugs.
Jade Goody had a list of things to do..but time ran out Best pal tells of tragic last days
Shock probe into the 'new Twitter', chatroulette.com Shocking probe into site hailed 'new Twitter'
VENABLES 'ESCAPES THE DOCK' But he could face 10 years locked up without trial.
BA-re knuckle flight BA boss Walsh vows not to 'wimp out' of battle.