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It is understood that no money will be exchanged in the deal with MF providing "behind-the-scenes" support on the management infrastructure of the event and areas such as security and ticketing systems. Managing Director Melvin Benn added that they will not change the character of Glastonbury saying, "Mean Fiddler will make no spiritual changes to the event".
The link-up, originally announced 2 weeks ago, had looked shaky 2 days later as Eavis had second thoughts about relinquishing some control of the festival, which he has run for the past 32 years. "I need help, I'm getting on a bit. I suppose I was fundamentally letting go of part of the festival. There were some misunderstandings but it's all been resolved now."
The move, involving Mean Fiddler founder and CEO Vince Power, his managing director Melvin Benn and Eavis himself, will give MF a 20% stake in net profits (after charities have been paid) rising to a maximum 40% after four years.
