Jackson estate faces $300m lawsuit

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.

• Jacko's double fake in film
• Blame it on the buggy
• Michael Jackson's This Is It (PG)

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