Published May 17, 2019In the wake of a New York judge ruling that Woodstock 50 would still be allowed to take place, the festival has now received financial backing from new investors.
Woodstock 50 organizers have announced American investment bank Oppenheimer & Co. as the festival's new financiers. In April, initial financiers Dentsu Aegis Network pulled out of the festival, claiming that the entire event had been cancelled.
"We are thrilled to be onboard for this incredible weekend of music and social engagement," Oppenheimer head of Debt Capital Markets & Syndication John Tonelli said in a press release. "We believe in Woodstock as an important American cultural icon and look forward to its regeneration in the green fields of Watkins Glen this August with all of the artists on the remarkable lineup."
On Wednesday (May 15), a New York judge ruled that Dentsu had no right to announce the festival's cancellation in April. The judge also ruled that the former financial partner did not have to return $17.8 million USD in funding to the festival's bank account, as demanded by Woodstock 50 LLC.
As of press time, no tickets for Woodstock 50 have gone on sale. As the Poughkeepsie Journal reports, festival organizer Robert Lang revealed on SiriusXM radio this week that tickets will cost less than $400 for the entire festival weekend, adding that an on-sale date could be announced in the next 10 days and tickets could go on sale in two weeks.
Woodstock 50 is scheduled to run from August 16 to 18 at Watkins Glen, NY. The festival lineup features JAY-Z, Chance the Rapper, the Raconteurs, Sturgill Simpson, the Black Keys, the Killers, Santana, Run the Jewels, Margo Price and more.