MEMPHIS, Tenn. — Memphis in May is planning to return to Tom Lee Park next year, event organizers said Thursday.
Organizers of the historic festival said they're worried about what that return will look like. They said not only do they not have a lease, but the festival, which lost $2 million last year, can't afford next year's higher damage deposit fee.
"Well, it's prohibitively expensive," Memphis in May President/CEO Jim Holt said. "As I indicated in the speech, going from a $53,000 damage expense to a required deposit of $1.4 million, a 26-time increase, it's not viable. It's not financially viable."
Memphis River Parks maintains there will be enough room for both the Beale Street Music Festival and the Barbecue Cooking Championship under the terms accepted in a mediation agreement between the two groups. Adding in a statement, "We expect the park to be substantially completed in time for the festival. Construction in the park will pause on festival days. Immediately following the festival, construction work will resume to repair damages caused by the festival and complete the park."
Organizers said next year's festival will be smaller as there won't be enough space for all of the usual events and tents. Most notably, there won't be a Blues Tent at next year's Beale Street Music Festival.
The park's renovation reached its halfway point in July.
