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£100m down the U2-ube

U2’s touring juggernaut was not only the biggest grossing of 2009, but one of the most epic of all time. (Though, as the sceptics have said, if you charge £75 per ticket for a stadium ticket gig goers expect nothing less than a shoe-in).

In case you live under a rock and/or don't have access to any form of media, it's the 40th Anniversary of Glastonbury festival this year. The farmers on Worthy Farm thought they managed to pull out the big guns when they announced that they had swayed the Irish rockers to headline their first ever festival. But then came the bad news, Bono’s old age halted the fun after his back gave way forcing them to cancel their performance. Glastonbury wasn’t the only show affected: they also canned a series of other World Tour dates and, according to their manager Paul McGuinness, the pullouts has cost the band £100m. Ouch!

Talking to The Sun about the loss, McGuinness said: ‘if we play or not, touring still costs us £500,000 a day. Bono and the band are covered by insurance but the cost of overheads and missed revenue could easily reach £100 million by the time he's fit enough to tour again.’

On the plus side Gorillaz are replacing U2 at Glasto. In short, and pun intended, Bono's loss is everyone else's gain.

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