The troubled economy is taking the blame for the cancellation of the Lynyrd Skynyrd and Trace Adkins show at the Sommet Center in Nashville, TN.

“For the past 12 years, we’ve been fortunate to have the biggest names in music celebrate New Year’s Eve in Nashville,” Steve Moore, of MEG / AEG Live, said in a statement, “but there is no denying that our core audience has been financially challenged by the hard realities of a flattened economy.”

Moore’s statement continued, “We believe it is in the best interest of the artist and the event producers, to remove the event from the calendar for 2008, regroup, and work to come back next year, to a better market environment. On behalf of the artists, we apologize for any inconvenience this situation has created.”

Ticketholders who purchased tickets at either the venue’s box office or at a Ticketmaster outlet must go back to the original point of purchase and present the original tickets to receive a refund. Phone and online orders will receive a refund from the point of purchase. Ticket prices were priced at $250, $89, $67, and $49.50.

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The Nashville show was one of two New Year’s Eve shows that Adkins and Lynyrd Skynyrd were slated to play. While Skynyrd was opening the concert in Tennessee, Adkins was slated to concurrently open a show in Pikeville, KY. The two artists would then switch locations to close out the respective shows.

With the cancellation of the Nashville gig, Adkins also backed out of the Pikeville concert in order to spend time with his family, according to a statement on the country artist’s Web site. However, that performance will continue as scheduled at The Expo Center with 38 Special and Dirt Drifters opening for Lynyrd Skynyrd instead.

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