New York — Woodstock 50 is proving to be as chaotic as the original festival held in 1969.
A financial investor in the festival announced Monday it was pulling its funding from the anniversary event, set to take place Aug. 16-18 in Watkins Glen, New York.
"Despite our tremendous investment of time, effort and commitment, we don't believe the production of the festival can be executed as an event worthy of the Woodstock brand name while also ensuring the health and safety of the artists, partners and attendees," Dentsu Aegis Network's Amplifi Live said in a statement.
"As difficult as it is, we believe this is the most prudent decision for all parties involved," the firm added.
Representatives for Woodstock 50 or Michael Lang, who co-founded the festival, didn't immediately reply to emails Monday seeking comment.
Ticket sales postponed
The anniversary event has had some bumps in the road in the last few weeks. Tickets were originally supposed to go on sale last week, but was postponed (a ticket sale date still has not been announced). And some of the performers leaked to the press ahead of its announcement.
Jay-Z, Dead & Company and the Killers were announced as headliners at the event, to take place about 115 miles (185 kilometers) northwest of the original site. The event is separate from an anniversary concert planned at the site of the original festival in 1969.
More than 80 artists, including John Fogerty, Miley Cyrus, Santana, Imagine Dragons, Robert Plant and The Sensational Space Shifters, the Black Keys, Chance the Rapper and Janelle Monae, are expected to perform on three main stages at Watkins Glen International racetrack in the Finger Lakes for Woodstock 50.
The original concert was held on a farm in Bethel, New York, that is now run as an attraction by The Bethel Woods Center for the Arts. The venue has its own anniversary event Aug. 16-18 with performances by Ringo Starr, Fogerty and Santana.