From Billboard.com

AllGood Entertainment is planning to sue Michael Jackson to prevent him from performing his London residency later this year. The company is alleging that Jackson’s manager signed a contract preventing him from scheduling any concerts before July 2010 — when Jackson has apparently signed on to perform with the Jackson 5 and Janet Jackson.

The contract was apparently signed last November by Jackson’s manager, Frank DeLeo. The contract states that until the Jackson Family reunion concert, Michael is not supposed to play any other concerts. AllGood Entertainment sent a cease and desist letter to Jackson in March, urging him not to perform the 50 shows at London’s famed 02 Arena.

The company has apparently tried to work out a deal to negotiate with Jackson, but have not reached an agreement.

“As of right now we’ve gotten zero cooperation from anyone, Frank DeLeo refuses to honor our agreement and that’s why we’re filing a lawsuit by week’s end,” Allocco said.

AllGood Entertainment says that the one-time concert, with Michael and his family, is scheduled for July 3 of 2010 at Texas Stadium in Irving, Texas. The concert would be watchable as a live-stream pay-per-view event. Jackson is rumored to be making up to $30 million for the one-off concert.

“Thirty million for one show is unheard of, that’s why we’re so frustrated,” he said. “Frank DeLeo is standing in our way. AEG has been constantly frustrating our ability to get this show.”

I’m sure that a certain amount of money will get AllGood Entertainment to back down a bit… but regardless, the 02 Residency has to have been in planning for months and months… why would Jackson’s manager have signed a contract with AllGood?