Sonisphere loss spells disaster for Knebworth estate

The cancellation of this year's Sonishpere festival is said to have left a 'huge hole' in the finances of The Knebworth Estate.

Rock fans were devastated earlier this week when the three day event, set to host performances from Kiss, Queen and Faith No More, was cancelled. Inflated ticket prices were blamed, as well as an overcrowded festival scene in the UK.

In an interview with The Independent, manager of the Herfordshire mansion and its grounds, Martha Lytton-Cobbold told of the troubles Knebworth was now facing.

"Losing Sonisphere has left a huge hole in our financial projections," she told the broadsheet. "But there is a lot of economic instability which affected ticket sales and the promoters took an intelligent decision to cancel this year."

Sonisphere organisers announced the cancellation of the 2012 event on 29 March, following headliners Queen telling fans of the cancellation on their own website the day before.