The Los Angeles Times is reporting that promoters for Michael Jackson’s concert run in London felt comfortable investing so much money into the venture – despite the singer’s track record of breaking contracts – because the money is being backed by the value of his Neverland Ranch and related assets.
As previously reported, Jackson stands to earn $50 million for the London shows and promoters are reportedly looking to extend it to a three year tour starting in Europe, then Asia, and finally the U.S.
Meanwhile, the King of Pop greeted his fans Monday outside of the Burbank dance studio where he is rehearsing for the concerts.
“Thank you for your love and support, I want you guys to know I love you very much,” he told the crowd, before adding, “I don’t know how I’m going to do 50 shows. I’m not a big eater – I need to put some weight on.”
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