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U2 to give €9m of tour profits to charity

Monday, 30 March 2009

Rockers U2 will donate an estimated €9m of their summer tour profits to charity, it was revealed last night.

The artists will give away 100pc of their income from VIP auction ticket sales at up to 100 worldwide concerts.

Up to 600 stage-front tickets per gig are being sold off via auction, with minimum starting bids of between €95 and €1,015.

Every cent band members Bono, The Edge, Adam Clayton and Larry Mullen Jr earn from the sale of tickets in the 'Red Zone' will go to charity.

The charity-style partnership Global Fund, which helps fight AIDS, tuberculosis and malaria, will benefit from a large donation.

Other good causes expected to receive payouts are charities focusing on Africa, the core of Bono's campaigning.

U2's precise cut of their concerts' gross takings is a closely guarded secret, but is thought to be upwards of 75pc. Promoter Live Nation also takes a cut, along with the venue.

A U2 spokeswoman said: "All of U2's income raised from the auction of Red Zone tickets will be donated to charity."

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This is alot less than they wouled be paying in tax, so I see it as a cynical response to the recent criticism of the band.

Posted by Patrick | 30.03.09, 16:02 GMT

I think this is a case of trying to close the door once the horse has bolted. All that seems to be happening here is that they are giving away the money that the people are paying to hang around in VIP areas at their concerts. Ah well I suppose it's still a hell of a lot cheaper than paying their taxes to the (their) Irish government.

Posted by Michael Falkes | 30.03.09, 15:14 GMT