Elton John is said to be facing a staggering £60million financial hit this year after Covid-19 caused him to halt his mammoth Farewell Yellow Brick Road tour.
Elton John, who is said to be worth £360 million, was forced to halt the US leg of his global trek as the pandemic wreaked havoc around the globe.
Due to the tour behind put on ice, Elton and his husband David Furnish are said to be looking at ways to cut back spending after initially having hoped that Elton's megabucks tour would have "seen him into his retirement".
Mail On Sunday report that Sir Elton is unlikely to be able to receive any insurance pay out for his losses. The publication add that many of the tour's band have been "laid off" until it's clear if the tour will continue