Elton John lays off staff and bandmates after cancelled tour knocks him for $75 million
Elton John has actually supposedly been left “bereft” after taking a considerable $75 million (₤60 million) hit after coronavirus required him to cancel his goodbye tour.
According to The Mail on Sunday, the Tiny Dancer star and partner David Furnish had actually expected the money would see the star into his retirement, and it is thought the hitmaker is not likely to get any insurance coverage payment for the losses.
The cancellation of the tour has actually likewise led to his long-serving band – consisting of guitar player Davey Johnstone and drummer Nigel Olsson – being laid off till it ends up being clear if shows set up for later on this year will occur, according to the publication.
A variety of the domestic staff at the star’s $25 million (₤20 million) home in Atlanta, Georgia have actually likewise been informed they are not required.
In Spite Of being worth an approximated $445 million (₤360 million), according to the current Sunday Times Rich List, Elton is now believed to be evaluating if he will need to make additional cost savings and, if so, where.
“The tour was forecast to make over £60 million this year. That revenue has literally disappeared overnight,” a source discussed. “Nobody expected this.”
Elton needed to cancel or delay 34 U.S. dates from his Goodbye Yellow Brick Roadway tour, and it is progressively most likely that the 48 gigs set up from September to December will likewise be impacted.
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