U2 To Announce New Dates

U2 are reportedly facing losses of up to £100 million ($148 million) as a result of the cancellation of their world tour this year, brought about by Bono undergoing emergency back surgery.

U2’s mammoth 2010 world tour was put on hold, and a headlining slot at Glastonbury was cancelled, after Bono was admitted to hospital last month. The effects on their bank balance look set to be severe.

The band’s manager Paul McGuinness told The Sun, “If we play or not, touring still costs us £500,000 ($741,000) a day.”

A band insider is also quoted as saying, “Bono and the band are covered by insurance but the costs of overheads and missed revenue could easily reach £100 million by the time he’s fit enough to tour again.”

News of U2’s tour deficit comes days after it emerged that bass player Adam Clayton is to sue the band’s financial controller for alleged negligence.

Meanwhile, the band are set to announce their rearranged tour dates this week. The Edge has previously stated that live dates would resume in August.