Bono's back injury could cost Irish rock giants U2 up to £100 million in lost touring revenue.
Amongst the last remaining rock giants, touring is an expensive business. Acts such as U2 build enormous stages which have to be transported and built, facilitating a massive crew of trained stage technicians.
Add in hiring the vast stadiums in the first place, throw in a few expensive hotels and you have a costly business. So when Bono came down with a back injury a few weeks back, it must have been serious.
Mid-way through their hugely ambitious '360 Degrees' tour, U2 were forced to cancel a series of tour dates as their frontman underwent emergency surgery on his back.
Pulling out of Glastonbury, U2 remain on the sidelines. Now British tabloid The Sun reports that the lay off could cost the Irish rock giants up to £100 million. A source is reported as saying: "Bono and the band are covered by insurance but the cost of overheads and missed revenue could easily reach £100million by the time he's fit enough to perform again."
Legendary manager Paul McGuinness told the newspaper that the band's costs must be paid, whether they are playing or not. "If we play or not, touring still costs us £500,000 a day."
Woah. According to The Sun's financial experts that leaves a hole of £4.5 million per show, and with an entire North American tour being junked that represents an enormous loss.
Not to worry, though, as the band are covered by insurance. Intriguingly, The Sun also reports that as part of the Live Nation deal U2 are being paid £2 million per show on their current tour.
New dates on the North American leg of the tour are set to be announced later this week, with Bono apparently responding well to surgery.