At the time of his death on Thursday, Michael Jackson was rehearsing for a 50-date London run at the O2 Arena – and with his passing, concert promoters AEG have issued a statement on the future of the sold-out shows.
"On behalf of the entire AEG organization we extend our deepest condolences to Michael Jackson's family and friends during this tragic time," a rep for AEG said in a statement.
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"Full ticket refund information and procedures will be released early next week for all Michael Jackson 'This Is it' shows. Fans are advised to hold onto their ticket vouchers/proof of purchases."
Kenny Ortega, the "High School Musical" series director who was working with Michael on the shows, told Access in a statement that the shows were "the most exciting collaboration of my life with a man who has inspired me like no other."
"This was the world's greatest performer and the world will miss him," Kenny added
The shows were billed as Michael's last in London – and would've marked his ambitious return to performance after years out of the concert spotlight.
According to Billboard, AEG could be on the hook for $85 million in tickets, with over already 750,000 sold.
While Michael won't have the chance to make his concert comeback, his best-selling music has caught fire once again – seven of his albums are currently in iTunes' top 10 albums chart, and retailers such as Amazon.com and Barnes & Noble have reportedly sold out of his CDs.
Related Content from AccessHollywood.com:
PLAY IT NOW: Last TV Interview: Michael Jackson Talks Digital Revolution & Comeback (Ireland, Oct. 2006)
PLAY IT NOW: Michael Jackson's Former Publicist Raymone Bain Talks Possible Drug Abuse (6/26/09)