AEG Refund Tickets Starting Wednesday

AEG is giving Michael Jackson fans who bought tickets to the sold out 50-city tour at the O2 arena in London two options. According to MTV News, fans that paid to attend the show can either get fully reimbursed or receive a keepsake copy of the ticket, which has graphics inspired and designed by Jackson himself.

Fans have until Aug. 14 to make their decision. Ticket-holders invested over $90 million on the tickets, which were priced between $82 and $124. Some were more than that on internet auction sites.

"The world lost a kind soul who just happened to be the greatest entertainer the world has ever known," AEG President and CEO Randy Phillips said in an announcement of the refund policy.

"Since he loved his fans in life, it is incumbent upon us to treat them with the same reverence and respect after his death."

MTV News reported AEG was insured for the "This Is It" tour but it is unknown as to whether or not the insurance policy will cover any of Jackson's expenses.

The first date of the tour was to take place on July 13. It was reported that Jackson's last performance was recorded at the Staples Center in Los Angeles just a few hours before he died.