Michael Jackson’s historic 50-show “This Is It” residency at the O2 Arena in London, England, might be over before it even starts. A one-off concert contract with AllGood Entertainment could prove to be a deal-breaker for the King of Pop’s long goodbye in London.

The New Jersey-based concert promoter’s CEO Patrick Allocco told TicketNews that he entered into an agreement with Jackson’s manager Frank Dileo to produce a 150-minute concert reuniting all nine Jackson siblings on stage for a single night.

The one-off event had been tentatively scheduled for this summer, but was pushed back to July 2010 to accommodate Jackson’s plans in London. However, Allocco alleges that he has not been able to reach anyone since then to finalize the terms of his own event.

A one-paragraph non-competition clause in the agreement could shut down the King of Pop’s plans in London unless an agreement is reached between Allocco and Jackson’s manager. The non-complete specifically states that Jackson may not perform any event — alone or with his siblings — prior to the reunion event or for a period of three months following the show.

ticketflipping provides valuable tools for ticket resale professionals

As it states in the document: “Artist” grants “Purchaser” the exclusive rights to produce the Event with “Arists,” and “Artists” agree not to consider or agree to perform on stage together prior to the Event and for a period of at least one year following the Event. Furthmore, Michael Jackson agrees not to perform individually or with any family member prior to the Event, or for a period of at least three months following the Event.

The binder’s opening paragraph stipulates that, within the document, “Artists” refers to Michael Jackson, Janet Jackson and the other Jackson brothers, while “Purchaser” refers to AllGood Entertainment.

Allocco told TicketNews that his lawyers plan to file the suit on either Friday, May 15, or Monday, May 18. He said, “Unless someone steps forward to resolve this, we will take it to court.”

Dileo reportedly signed the contract on behalf of the Jacksons, though no member of the Jackson family personally signed the agreement. In published reports, AEG Live, the producer for the O2 Arena residency, has questioned Dileo’s authority to act on behalf of Jackson.

Calls to AEG Live’s London office were not answered.

Learn more about the Insomniac web browser, designed for ticket resale professionals

Allocco hopes the matter can be resolved without a lawsuit and the mass concert cancellations in London. “We just want to do our date next summer,” he said, adding, “Nobody wins in lawsuits.”

Jackson’s “This Is It” concerts are currently set to go on as planned, with the kick-off slated for July 8. Performances have been scheduled through February 24, 2010.

In 2008, Jermaine Jackson told the Australian Associated Press that a Jackson Five tour, featuring sister Janet Jackson, was in the works. However, in a statement released by spokesman Dr. Tohme Tohme, the King of Pop denied any involvement in plans for a Jackson Five reunion.