Prince Facing Financial Problems


Prince’s decision to cancel a 2008 concert in Ireland days before the show will cost him $3 million dollars!   And the singer also owes $500,000 in back taxes in Minnesota.   Read more on Prince’s financial problems below.

The singer was sued by an Irish promotions company called MCD after pulling out of a show in Dublin just days before the concert.

Prince’s legal team agreed to settle the lawsuit out of court at a hearing but the MCD guys brought the singer back to court saying he failed to hand over the settlement sum after February’s hearing.

A judge ruled against Prince today and says he owes almost $3 million for the canceled show.

When Prince was told that the Irish are pretty upset at him and that he owes them money, Prince reportedly said, “Tell the cat to chill. We will work something out.”

That’s not Prince’s only financial problem.   The Carver County Minnesota tax collector is going after Prince for about $500,000 in back taxes, interest and fines on 12 properties he owns in the area.   They plan to file against the singer in May if he doesn’t pay up!

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