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Kanye West may get huge payday for canceled tour

Photo credit: Steed Media

Photo credit: Steed Media

The recent hospitalization of Kanye West may result in a big payout for the star. As reported earlier, West was hospitalized in Los Angeles just hours after canceling the rest of his Saint Pablo tour dates.  Now according to music insiders and media outlets TMZ and Page Six, it may all be a ruse to avoid paying huge losses for his cancelled Saint Pablo tour. Apparently, West has an insurance policy that covers the tour and cancellation due to illness. Page Six quotes a music insider who stated, “He had just canceled for no reason, no injury, no force majeure, so they were going to lose a bunch of money. Kanye is crazy, but not crazy enough to not get his insurance money. [He] knows what he is doing.”

A shocking allegation with some credence according to some familiar with big name music contracts. The insurance carrier might be on the hook to not only pay Kanye but also people that he may owe in the event that  “accident or illness . . . prevents any Insured Person from appearing or continuing to appear.”

The unnamed source stated that Kanye was to receive approximately $30 million for his appearance at the shows. In addition the venues, sponsors and backers were also expected to make money and now they are out the revenue. These venues could sue Kanye for his cancellation and the money lost for due to the cancellation. His insurance policy would take care of his financial crisis but he is not out of the woods yet. Typically these type of policies have a rider that if the subject had a known pre-existing condition the carrier does not have to pay.  Especially if his illness was caused by his “unreasonable or capricious behavior.” An insurance investigation could be launched and Kanye may have to release all his medical records to prove that he is in fact too ill to perform.


1 Comment

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