An agreement is reached between the festival organisers...

An agreement has been reached between GLASTONBURY organiser MICHAEL EAVIS and the MEAN FIDDLER GROUP, paving the way for this year’s festival to take place.

A press conference has just ended in a central London hotel, hosted by Eavis, Mean Fiddler supremo Vince Power and Melvin Benn, the man who will after all take care of operational management of the festival.

This year’s festival, Europe’s biggest outdoor event, had been thrown into doubt yesterday (February 19) when Eavis announced he was pulling out of a deal allowing Mean Fiddler a 20% stake in Glastonbury in return for their professional organisational expertise. The stake was set to rise to 40% in three years.

Mendip District Council, responsible for granting a licence to allow Glastonbury to go ahead, had also said yesterday they would have seriously considered revoking the licence had Mean Fiddler not been used to help with public safety issues.

However, although Eavis said that there had been “misunderstanding” between all involved over the last few days, the “future of the festival is safeguarded”.

A statement has been issued, that reads: “A meeting took place in London today (February 20) between Mean Fiddler, Michael Eavis and the Workers Beer Company.

“As a result of the meeting Michael Eavis and the Mean Fiddler are proud to announce that they’ve reached a fundamental understanding as to what is needed to safeguard the spirit of the Glastonbury Festival while taking the steps necessary to secure its future.”

The deal with Mean Fiddler has been initially set for five years. This year, Mean Fiddler will receive 20% of the net profit, rising 10% each year. Their stake will be capped at 40%.

Eavis was keen to insist that the festival will be run in the same way, with him responsible for the booking of bands.

When asked what role Mean Fiddler would like to play in the long-term, boss Vince Power told NME.COM: “We hope to make it a better festival and be there in the long-term.”

No bands were revealed at the conference, with Eavis saying the line-up will be revealed after the event sells out.