Benicassim Festival to go ahead, Vince Power sells shares in company

Rumours had previously been circulating that Spanish Festival Benicassim had been in doubt amid a series of troubles surrounding the event.

Now, as DIY point out, an official statement has been made stating that while the festival will continue as planned, main stockholder Vince Power has been forced to sell a large amount of shares in the company due to the “difficult economic climate”.

Cancellation rumours started after Spanish language newspapers El Pais and El Confidencial ran stories on ongoing problems such as money owed to various vendors, lack of payment guarantee and low ticket sales.

The full statement from Benicassim reads as below:

“The difficult economic climate coupled with the bad year suffered by Music Festivals PLC has prompted my decision to sell a major shareholding in Benicàssim festival. I am pleased that 2 of Europe’s best known Festival Promoters are now taking part. FIB is one of the world’s most established and best-loved live music events and I wanted to ensure the future of the festival for many years to come. I am pleased we have found great partners to take Benicàssim forward to its next phase and to guarantee it is secure and solid for the fans, this year and every year. Next year Benicàssim celebrates its 20th anniversary and I look forward to many more memorable festivals in years to come.”

Vince Power had already scrapped one festival this year after cancelling Hop Farm. Power will still, however, remain Managing Director of Benicassim.

Acts booked to play the 18th instalment of Benicassim this year include Queens Of The Stone Age, Arctic Monkeys, The Killers and more.