Stones lose $10m for cancelling tour down under

The Rolling Stones are set to lose more than $10million after postponing their tour of Australia and New Zealand.

The Rolling Stones are set to lose more than $10m (€7.2m) after postponing their tour of Australia and New Zealand.

The band - featuring Sir Mick Jagger, Charlie Watts, Ronnie Wood, Keith Richards - postponed their '14 ON FIRE' tour last week after frontman Mick's long-term girlfriend, fashion designer L'Wren Scott, 47, committed suicide at her New York apartment.

The 'Brown Sugar' hitmakers were due to kick off their world tour in Perth on March 19 but were forced to postpone it until October.

According to Billboard, losses are said to include revenue from ticket sales, deposits which have been paid for venues and storage of their stage equipment, although some could be covered by insurance policies.

A music industry insider said: "For a cancellation of this sort, insured parties must be able to show that the circumstances were beyond control, and that the act is unable to perform for that reason."

The transportation of equipment, after the band reportedly hired 60 trucks to store their instruments and stage gear, is also believed to have set them back around $250,000.

Meanwhile, the promoters, Frontier Touring, reassured fans the band would return in October to perform their '14 ON FIRE' tour, although the exact dates are yet to be confirmed.

The company told fans: "If the new dates are not suitable, rest assured you will be able to secure a refund.

"While we encourage fans to hold on to their tickets, the option to secure a refund is now available to you via the official ticketing agency you purchased from."

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