A Merseyside music festival is back on course after concert promoters came to a financial agreement with Liverpool City Council.
This year's 16-day Summer Pops will now be held at Aintree racecourse as part of a new agreement which requires just £100,000 of taxpayers' money.
The council had initially cancelled this year's event due to the cost of subsidies required by event promoters.
Elton John, Diana Ross and Paul Simon have performed in previous years.
Huge benefits
The city council has agreed in principle to sponsor the music festival at the new 4,000 seat indoor Equestrian Centre at Aintree Racecourse.
"This sponsorship deal limits the council's liability because the promoter is taking all the financial risk"
The city council will invest £50,000 matched by another £50,000 from the Liverpool Culture Company.
Council leader Warren Bradley said: "I am insisting the amount of money we put into it is fixed and there is no extra risk for city council taxpayers.
"We are also talking with other organisations interested in putting on music festivals in Liverpool.
"The city reaps huge benefits from music festivals and we know from the Grand National that events held at Aintree benefit the whole Liverpool economy.
"This sponsorship deal limits the council's liability because the promoter is taking all the financial risk."
The event is to be organised by CMP Entertainments, who have run the Summer Pops music festival since 2001.
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