U2 to Experience $150 Million Loss Over Tour Cancellation

Rock band U2 will undergo a loss up to $150 million due to cancellation of their world tour following Bono’s  emergency back surgery.

According to reports, the Irish band were left with no option but to postpone the next leg of their massive trek and cancel their appearance at Britain’s Glastonbury festival after the frontman was brought to hospital for the operation last month.

The delay is set to cost the band greatly. Their manager Paul McGuinness tells Britain’s The Sun, “If we play or not, touring still costs us 500,000 pounds a day.” An insider adds, “Bono and the band are covered by insurance but the cost of overheads and missed revenue could easily reach 100 million pounds by the time he’s fit enough to tour again.”

The band is slated to announce the rescheduled tour dates later this week.

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