Credit: Instagram @woodstock

Last week, I admitted that Woodstock 50 was beginning to look like the next Fyre Festival. Running into the same legal and financial issues, I’m prepared to eat my words as new reports have stated the famed event will in fact go ahead with new financial backing.

Good news started when its organiser Michael Lang and the company won its court case against former investors Dentsu Aegis Network, the Japanese advertising company that cut ties and convinced performers to cancel appearances during the late stages of planning. Now, a new financial backer has come on board to see through what could be one of the greatest comebacks in history.

“We are thrilled to be onboard for this incredible weekend of music and social engagement,” said John Tonelli, head of Debt Capital Markets & Syndication at Oppenheimer & Co., Inc., in a statement. “We believe in Woodstock as an important American cultural icon, and look forward to its regeneration in the green fields of Watkins Glen this August with all of the artists on the remarkable lineup.”

“We’ve lined up artists who won’t just entertain, but will remind the world that music has the power to bring people together, to heal, to move us to action, and to tell the stories of a generation,” said Michael Lang, co-founder of Woodstock. He continued, “We look forward to putting on an incredible festival. Words cannot express how appreciative Woodstock 50, the artists, the fans and the community are to Oppenheimer for joining with us to make W50 a reality.”

With a lineup including the likes of Miley Cyrus, Jay-Z, Chance The Rapper and Halsey, the 50th anniversary of Woodstock is set to revive the once legendary event which saw a devastating end in 1999, following violent riots. The event is set to take place in the fields of Watkins Glen in New York on August 16 to 18.

With less than three months to go, stay tuned for ticketing information.