Fearing yet another last-minute cancelation by big-name performer, concert producers not taking chances with McCartney gig, to transfer payment mere half hour before show begins
The not-so-recent trend of famous performers cancelling their Israeli engagements at the last minute has prompted the organizers of the upcoming Paul McCartney concert to take somewhat unorthodox precautions.
Yedioth Ahronoth has learned that according to the agreement between the two sides, McCartney is expected to receive the payment for his performance a mere half hour before taking the stage.
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The sides agreed that McCartney would receive NIS 15 million ($4.3 million) for the concert, but that the money would be deposited in the trust of a New York firm's account and transferred to the singer just 30 minutes before the show.
The show is expected to take place in Israel on September 25.
McCartney’s agents, the trust company and the ticket box office were all signatory to the agreement.
An associate said that “the sides decided that the money will initially be deposited in a trust account and will be released a half an hour before the concert in order to insure all sides.
“On the one hand, the singer will be sure that the money is at his disposal and that there won’t be a problem with the payment and on the other hand, the organizers in Israel will insure their money in case the singer does not arrive for one reason or another.”
Attorney Haim Pitchon from Zeltner, Heilpern and Pitchon Law Offices, who will be representing the producers, brothers Dudu and Boaz Zerzevsky said, “The only thing that has been clear to the producers the entire time, is that Paul McCartney really wants to perform in Israel and that they are involved in a little history.
“This was the most important thing for us and this bridged all the divides.”
Yedioth Ahronoth was informed that a VIP ticket will cost NIS 5,000 ($1,440) and will reserve the buyer a seat close to the stage.
Moreover, because of the high demand, tickets for people wanting to stand are expected to be raised to NIS 1000 ($287) and higher.
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