SFX Entertainment’s downfall doesn’t seem to cease very soon. In a new ruling byΒ U.S. Bankruptcy judge Mary Walrath, SFX has been asked to keep $15 million specifically for artists so that they can be paid their entire fees in advance, before the festival!

Four huge booking agencies working with SFX are a part of this agreement, namelyΒ WME, AM Only, Windish and Paradigm Talent Agency. The beleaguered festival giant has been asked to allocate money to pay these artists, who in turn won’t perform unless they’re paid in full.

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(Courtesy: sfxii.com)

Via YourEDM, these are the conditions that SFX Entertainment must follow regarding artist payments:

Headliners of SFX events are entitled to, β€œ25% before announcement of the lineup; 50% thirty days before the Event Date, and 25% not less than five business days prior to the Event Date.”

Non-headliners of SFX events are entitled to, β€œ15% before announcement of the lineup; 40% thirty days before the Event Date, and 45% not less than five business days prior to the Event.”

Additionally artists of SFX events in clubs with less than 10,000 capacity are entitled to,β€œ20% before announcement of the lineup; 40% thirty days before the Event Date, and 40% not less than five business days prior to the Event Date.”

If you want to have a look at the official document, we have it right here for you:

While SFX’s golden days are gone, we can only hope the festival company gets out of this mess as soon as possible!