All About Finance

It was a huge risk, with a potentially huge reward:Michael Jackson's 50 sold-out London shows.

And now it's a huge financial disaster.

Concert promoter AEG LIVE must return $85 million in ticket sales for the eerily billed "This Is It" dates, the first Jackson live shows in a dozen years.

It's already spent more than $20 million on production costs for the shows, billed as the most expensive arena gigs ever.

AEG is out millions more in lost merchandise sales, and perhaps another $10 million in upfront money paid to Jackson.

AEG won't say if insurance covered its outlay for the mega-deal with the notoriously unpredictable Jackson. The first date was set for July 13.

"We're still dealing with all our financial people," said AEG spokesman Michael Roth. "There are a lot of numbers out there, everybody has it wrong so far. It's too early."