Woodstock 50: Michael Lang Accused Former Investors of “Illegally” Taking $17M
And the Woodstock 50 drama continues!
The latest to-do from the festival comes in the form of a five-page letter from organizer Michael Lang to former investors, Dentsu. Rolling Stone reports the letter claims that Dentsu “illegally swept approximately $17 million from the festival bank account, leaving [Woodstock] in peril.”
Lang also wrote he was initially concerned with partnering with Dentsu, because, “Corporations are not always the right match for certain creative endeavors, but I learned that Dentsu has pursued various social initiatives after certain tragedies and scandals that Dentsu faced which gave me confidence that your company would be an ethical and honorable firm to partner with.”
After the Japanese investment company announced the cancelation of the festival and allegedly discovering they took $17 million, Lang wrote this “…confirmed my worst concerns about partnering with your company. These actions are neither a legal nor honorable way to do business,” and that Dentsu, “…directly contacted all stakeholders, including the venue Watkins Glen International, insurance companies, producers, vendors and performers (some of whom I am lucky to count as personal friends) and suggested they not do business with me, and violate their contracts with my company.”
Lang also alleges in the letter that Dentsu told booked talent to not play the festival after their cancelation announcement and instead “appeal for a spot during the 2020 Summer Olympics in Tokyo,” where Dentsu’s headquarters is located.
Lang’s letter also suggests that even though Woodstock 50 hadn’t officially secured the necessary permits for the festival, the state of New York still “granted conditional approval…to proceed with ticket sales,” but he says that Densu “blocked this sale for no apparent reason.”
With all of this in mind, however, Woodstock 50 has yet to announce a new ticket sale date or any new news pertaining to the festival taking place, other than it’s still scheduled for August 16-18, despite its initial cancelation.
Erica Banas is rock/classic rock news blogger that loves the smell of old vinyl in the morning.
