Mojo Hopes To Break Even On TEG Shows

Mojo Concerts doesn’t expect to do any better than break even on the Dutch Diana Ross shows it rescued from the bankrupt The Entertainment Group BV, but company chief exec John Mulder was keen to see the live industry keep faith with its market.

If the Diana Ross dates at Arnhem Gelredome Oct. 16-17 were canceled, the 50,000 fans who paid between euro 50 and euro 70 for a ticket would have seen their money disappear in TEG’s reported euro 26 million demise.

“We hope at the very best to break even,” Mulder told Pollstar as more than euro 300,000 had been lopped off the show’s potential gross. “The official receiver has everything now.”

Top Dutch singer Marco Borsato, founder and major shareholder of TEG which also managed him, has agreed to do two shows for free to help fund the Ross dates.

“We contacted Marco through the official receiver because of the number of fans that are holding tickets and it gave him a chance to also take some responsibility,” Mulder explained.

Despite Borsato’s financial interest in TEG, his own career means he had little involvement in the company’s day-to-day running. He said it was a “sledgehammer blow” when he learned TEG was in deep trouble.

The Hilvershum-based company he co-founded in 1994 had been under Chapter 11 protection since the middle of September and was declared bankrupt by an Amsterdam court Sept. 22.

“It’s the first contact I’ve ever signed for zero euros but I think it’s the best contract I’ve ever signed,” he told a press conference at Amsterdam Paradiso Sept. 23.

Other artists including Guus Meeuwis, Paul de Leeuw, Jan Smit and Trijntje Oosterhuis have announced they will also perform free of charge.

They will be at the Gelredome Oct. 20-21 and proceeds will be used to cover the ticket money that sunk with TEG and fund the Ross shows.

Dutch papers are still asking how the company can have gone under with so much debt and speculating over whether there has been any wrongdoing.