Dentsu Aegis, the former financial backer who canceled Woodstock 50, fired back at festival leaders in a statement published by Billboard prior to a court hearing Monday afternoon.
“The production company has quit, no permits have been issued, necessary roadwork has not begun, and there is no prospect for sufficient financing,” Dentsu’s attorney Marc L. Greenwald wrote. “As much as the parties might wish it otherwise, the festival contemplated by their agreement cannot happen and allowing it to go forward would only put the public at risk.”
Woodstock 50 has accused Dentsu of misappropriating nearly $18 million in funds from the Woodstock 50 bank account.
Dentsu also claimed that co-founder Michael Lang misrepresented the capacity of Watkins Glen International, saying that the festival could hold 150,000 before permits were approved.
Dentsu announced the cancelation of Woodstock 50 without approval from co-founder Michael Lang at the end of April. Superfly, one of the production companies tasked with putting together the three-day festival at Watkins Glen International, also pulled their support for the festival.
“Not only did W50 book talent, but it promised to make payments to the artists, contrary to Amplifi Live’s explicit instructions,” Greenwald wrote. “Amplifi Live had no option but to make these payments after a damaging rumor leaked to the public that the Festival was experiencing financial difficulties, threatening the Festival’s success.”
Lang and Woodstock 50 have insisted that the show will go on despite Dentsu and Superfly pulling their support.