Woodstock 50 continues to delay its on-sale as co-founder Michael Lang has been given until Friday to raise enough cash to produce the festival, Billboard reports.

Lang has predicted he will need $30m (£23m/€27m) to keep the three-day festival in upstate New York afloat, in addition to what Japanese firm Dentsu already spent on headliners for the festival including Jay-Z, Dead & Company, The Killers, Imagine Dragons, Miley Cyrus and Chance the Rapper.

Dentsu officials told Billboard that its decision to pull out of the festival, which is scheduled from August 16-18, would mean it would be cancelled.

Lang disagreed and claims the festival will go ahead, quashing fans’ fears of the festival being cancelled as merely “rumours.”

Tickets were supposed to go on sale last month, but were pushed back due to the uncertainty of Woodstock 50’s viability.

“There is currently a hold on the Woodstock 50 on-sale date,” read an email distributed to various booking agents and managers, according to Billboard. “We are waiting on an official press statement from Woodstock 50 regarding updated ticket pricing and overall festival information.”

A report of Dan Berkowitz and his firm CID Entertainment taking over as festival producer has not been confirmed, despite a spokesperson for Lang telling Billboard this was the case.

CID has been scheduled to run hospitality and VIP services at Woodstock 50, working in conjunction with Superfly, which pulled out.

Image: Daniele Dalledonne