AEG explains Jackson ticket souvenir policy

The concert promoter behind Michael Jackson's cancelled O2 gigs has explained the decision to offer fans the option of securing a full refund or keeping their ticket as a souvenir.

Speaking on Sky News, the chief executive of AEG Live dismissed speculation that the resolution to brand tickets as memorabilia had been taken for financial reasons or to exploit the singer's death.

"We were originally just going to do the full refund including service charges... but then we started getting emails and blogs that people might want to keep the tickets," said Randy Phillips.

"The truth is, it had nothing to do with his death. It's not something we did exploitedly. But, we made these amazing tickets that it painstakingly took Michael four weeks to approve.

"We had eight designs... and they're quite beautiful, so we thought it might be appropriate to offer people the option to keep the tickets."

When asked about the likely financial repercussions of the 'Thriller' star's death on the promoters, Phillips replied: "I lost a close friend on Thursday. It's not about the money necessarily."

Jackson, who passed away at the UCLA Medical Centre last week, had been scheduled to begin a 50-date comeback tour at the London venue on July 13.