After a very rough start, it looks like the Woodstock 50 Festival may be back on.
The 50th anniversary festival has traveled a difficult road since it was announced, struggling to keep its headline acts and even put tickets on sale. In fact, tickets still haven’t gone on sale for Woodstock 50, but it does appear that some of the event’s financial woes might have been solved.
The Woodstock 50 Festival team have announced that Oppenheimer & Co. have signed on to complete the financing for the festival following a legal victory last week.
“We are thrilled to be onboard for this incredible weekend of music and social engagement,” John Tonelli, head of Debt Capital Markets & Syndication at Oppenheimer & Co. Inc., says 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.”
The news comes after the festival’s backer, Amplifi Live, pulled out of the event in April and announced that it was canceled. Amplifi initially promised to invest $49 million in the event, and pulled its support after claiming that festival organizers could not meet certain benchmarks to continue. Organizers filed a court order for breach of contract, and Vulture reports that on May 15, the New York Supreme Court ruled Amplifi Live could not legally cancel the event, but that it did not have to return the $17.8 million it reclaimed that was already invested in the festival.
Woodstock 50 is planned as a three-day music and arts festival to celebrate the 50th anniversary of the iconic Woodstock Festival. The festival is slated to take place on the exact anniversary weekend, Aug. 16-18, with Miley Cyrus and Brandi Carlile as two of the notable acts. Others performers include Anderson East, Sturgill Simpson, Margo Price and Jade Bird.
The press release states that all of the festival preparations will continue as originally planned.
“We look forward to putting on an incredible festival,” says Michael Lang, co-founder and producer of the 1969 and 2019 Woodstock festivals. “Words cannot express how appreciative Woodstock 50, the artists, the fans and the community are to Oppenheimer for joining with us to make W50 a reality.”
The Woodstock 50 website promises tickets will be on sale soon, and fans can sign up for a mailing list to be the among the first alerted when ticket sales are announced.