The residents of Watkins Glen, NY had probably already un-boarded their windows, cancelled their
panicked exodus planned weekend away to Niagara Falls, and torn the “Parking $150” signs out of their driveways when TMZ reported that Woodstock 50 was back on yesterday. That sucks that some of them probably had to pay the rental fee for the Porta Potty to host on their front lawns twice.
The three-day Woodstock 50 festival featuring such acts as Miley Cyrus, Jay-Z, The Killers, Santana, Robert Plant, Halsey, and (of course) Dead & Co. was canceled last month by initial financial backers Dentsu. Hold my water pipe, said Oppenheimer & Co., and waded in. The investment bank and financial services firm is reportedly going to secure funding for the festival and serve as “financial advisor.”
A well-placed Oppenheimer source with knowledge tells TMZ, “We will gain financing from our clients and funds in the company.” Translation … some clients who invest with Oppenheimer will have a new addition to their portfolio … Woodstock. We’re told there will probably be other funding from other sources, but Oppenheimer is a game changer.
Hopefully those investors are cool with opening their wallets because Billboard is reporting that festival co-founder Michael Lang needs “$20 to $30 million to get tickets on sale and get its permit squared away.”
In other “Woodstock 50 needs MUH-NEH!” news, Michael Lang is looking to get in on all the enormous amounts of weed money that’s probably going to be in play so festival-goers can get stoned enough to endure the shrill chirping of Miley Cyrus, y’all!
The Woodstock co-founder also planned to launch a legal cannabis Woodstock brand with high-end dispensary operators Med Men.
Unfortunately, that’s going to be a fight for Lang, too. A judge has blocked Woodstock Ventures (which owns the Woodstock trademark) from its licensing agreements due to a trademark dispute with another company.
The festival will supposedly be held from Friday, August 16 to Sunday, August 18. According to their website, tickets will go on sale “soon.” And, good news for attendees, those tickets will supposedly be less than the previously announced $450 for a three-day pass according to Syracuse.com. That’s good. The inevitable Melanie/Pussy Riot team-up would be hot but $450 hot?
Pic: Woodstock 50