mjpicglasses230.jpgIt's been almost one year since Michael Jackson's Los Angeles Memorial celebration took place, but until now, the debt has remained unpaid. However, AEG and the Jackson estate have finally agreed to pay the City of Los Angeles $1 million to cover the costs from last year's event on July 7 at the Staples Center.

Also getting paid by Michael's estate and AEG ... $300-thousand towards the crime fighting equipment used to keep the crowds in control.

The total amount of money needed to cover the costs for the day? According to city officials, $1.3 million would pay for permits, the police, as well as the Transportation and Sanitation Department expenses.

Mayor Antonio Villaraigosa released the following statement:

    "I applaud this team effort and thank everyone involved for doing what was best for the people and the City of Los Angeles. 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."


As for AEG, President & CEO Timothy J. Leiweke made this announcement:

    "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. We also extend a great thanks to John Branca, John McClain, Howard Weitzman and the Estate of Michael Jackson for their willingness to contribute. They did not have to do this but like us, they live here and are committed to stepping up to help our City at this time of need."


Better late than never!