Gives $1.3 million to city
After it was determined that $1.3 million in costs were incurred by the City of Los Angeles in relation to the Michael Jackson memorial July 7 at Staples Center, AEG and the singer’s estate agreed to donate $1 million to the city’s general fund, plus an additional $300,000 in cash and crime fighting equipment to the Los Angeles Police Foundation.“I applaud this team effort and thank everyone involved for doing what was best for the people and the City of Los Angeles,” Mayor Villaraigosa said in a statement. “Through the continued good corporate citizenship of AEG and the Michael Jackson Estate, we will be able to promote and support important civic events that hold so much meaning for the people of Los Angeles and bring us together as a city.” Partial payment of AEG’s pledged donation to the Police Foundation has already been made in the form of $90,000 previously contributed from funds via the sale of suites at the Jackson tribute. An additional $210,000 of equipment requested by the LAPD, including a call for the purchase of scanners to be used by police who patrol skid row, has been pledged by the entertainment and sports promoter. “It was important to us that all parties agreed that this was not an obligation but a choice we believed was important to make at a time when thousands of City employees are being reduced,” said AEG president and CEO Timothy Leiweke.