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“Luis Miguel: the series”: the rescue plan with which the singer saved himself from bankruptcy

It is not a secret that Luis Miguel had severe financial problems. In the original fiction of Netflix and Telemundo, the adversities that he faced since the beginning of his career have been narrated. To refresh your memory.

In the first season, the relationship of mistrust of the ‘Sun’ with his father, Luisito Rey, was deepened, who was not transparent with his finances and the money he made as a child and adolescent. Meanwhile, in this second season we see how the singer deals with tinnitus, a hearing problem that coincided, in 2006, with the beginning of his financial crisis.

The second season “Luis Miguel: the series” narrates the life of the ‘Sun’ in two stages. One in the nineties and another in 2005, where he allegedly had a hearing accident at a concert he gave in Lima.

As we have already commented in other articles, there is no record of a Luis Miguel concert in that year, much less of the accident. However, what is certain is that the Mexican singer struggled with tinnitus for a long time.

In an interview, Luis Miguel told Argentina’s TN (Todo Noticias) channel in 2015 that he had a health problem that forced him to stop working. “I had some problems but those are already a part of the past. We are already in another stage. I had to spend a little time, get away a bit from the album, from my career, but it was a necessary question. I’ve already gone through that stage and I don’t want to remember it,” he added.

Debts

In 2006 the problems began for Luis Miguel. The interpreter stopped paying taxes generated by his penthouse in the “Jade” building in the exclusive Brickell area of ​​Miami. By 2008, it already had a debt that reached 133 thousand dollars.

The same happened in Mexico. This time the government of Acapulco notified him of a debt since 2001 for the use of 1,300 square meters of beach in the Mexican port. The sum came to almost two thousand dollars. Although it is not a lot of money, everything was adding up. To this was added a debt that generated his foray into the world of wines.

In the Netflix series, it is appreciated that Miguel Alemán, a lifelong friend of Luis Miguel, hires Azucena, to be in charge of auditing Luis Miguel’s personal and company finances, in order for him to buy a vineyard, a project with which he wanted to generate income while he could not sing due to his tinnitus.

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In fiction, Azucena finds figures that do not add up to Luis Miguel’s accounts, which arouse suspicions of a robbery by his trusted people. In the fifth episode of the second season, it is even revealed that she travels to Lima to talk with the businessmen who hired him to give a concert in Peru. By the sixth chapter it was already known that someone from Luis Miguel’s team was using cheaper suppliers to save that money and not declare it.

Embargoes and fight with Alejandro Fernández

Returning to the financial problems of which there is a record. Luis Miguel in 2011, asked William Brockhaus to become his manager. The businessman accepted and even founded a firm to dedicate himself entirely to the representation of the Mexican singer. For three years, WB Music Management, Brockhaus’s company ran business, finance and even his ‘Sun’ tours. However, in 2014 they stopped working because the interpreter did not pay the fees.

After going to trial, and a long legal battle of two years, the court ruled in favor of the businessman and in January 2017, Luis Miguel’s luxurious Rolls Royce was ordered to be seized to settle a debt of more than a million dollars.

This was only the first property that Luis Miguel had to get rid of. He said goodbye to his house in Acapulco, the Miami apartment, the house in Los Angeles, even a luxurious yacht; all this because its debt amounted to about 120 thousand dollars to the US authorities.

The Peruvian public has been delighted with the talent of Luis Miguel throughout his multiple concerts in Lima in the years 1990, 1991, 1992, 1993, 1996, 2002, 2004, 2010, 2013, 2014, 2018 and 2019. (Photo : GEC File)
The Peruvian public has been delighted with the talent of Luis Miguel throughout his multiple concerts in Lima in the years 1990, 1991, 1992, 1993, 1996, 2002, 2004, 2010, 2013, 2014, 2018 and 2019.

He also had problems with his label. In 2014, Warner Music accused the singer of failing to record four albums. Luis Miguel had to pay them 3 and a half million dollars for the breach of the contract. However, he did not do so and had to renegotiate the amount and the date. Again, he did not comply and faced a new lawsuit in 2017, this time for $ 13 million.

Another conflict that caused him to lose large sums of money was the breach of contract he had with his compatriot Alejandro Fernández. The two Mexicans announced in 2015 that they would go on a joint tour which they called “Passion Tour.” That tour would begin in April 2016 at the National Auditorium of Mexico and then it would take them to tour all of Mexico, Central America and the United States.

Luis Miguel demanded an advance as part of the earnings, while Fernández gave an advance to prepare for presentations. However, the concerts did not take place due to the health of Luis Miguel and he refused to return the guarantee; indicating that they do not return the advance.

This answer did not like Fernández, who decided to sue him for almost 7 million dollars. This conflict not only generated monetary losses to the ‘Sun’, it also damaged its image.

Reborn of the ‘Sun’

Luis Miguel’s good friends helped him get out of the debts he was in. Miguel Alemán Magnani along with Carlos Slim Domit and Carlos Bremer, were important pieces that the ‘Sun’ get out of its financial problems. In “Oro de rey: Luis Miguel. The biography ”, a book by Javier León Herrera and Juan Manuel Navarro, narrates that it was Miguel Alemán Magnani who recommended that he“ tear up his life ”as a strategy to solve his financial problems.

Miguel Alemán Magnani manages to convince Luis Miguel and the producer Gato Grande, along with Miguel Alemán Magnani, José Luis Ramírez, Antonio Cue Sanchéz, whose wife Carla Gonzáles Vargas, remained as executive producer, they manage to close with Netflix to broadcast the series in Latin America and Spain, and with Telemundo for the United States.

Miguel Alemán is the unconditional friend who has been by Luis Miguel's side through thick and thin and who saved him from bankruptcy. (Photo: Who)
Miguel Alemán is the unconditional friend who has been by Luis Miguel’s side through thick and thin and who saved him from bankruptcy.

Alemán Magnani’s idea was clear. What the series sought was to seek the creation of a trust that would help pay Luis Miguel’s debts and prevent him from sinking.

The series and the strategy of the trust began to be done simultaneously, while with the money from the “Mexico forever” tour, the debts that he had were being paid little by little. Everything was solving. An agreement was reached with Alejandro Fernández, who, according to “Oro de Rey”, was always sympathetic to Luis Miguel’s financial problems. The problem with his former manager Brockhaus and with the Warner label was solved.

Carlos Bremer assured in an interview that the trust is being paid to those who owe. “I had to make the plan to know how to revive this great idol of Mexico. I also offered to finance but it was not necessary with the scheme that was made”, he assured in 2019.

The plan of Bremer, Alemán Magnani, Slim Domit and Luis Miguel went very well. As is known, the first season of “Luis Miguel: the series” was a success. And the second goes that way too. Also, the same year the series was released, his new album “México por siempre” won two Grammys after 13 years.

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Bremer said in an interview with the newspaper Reforma, that Netflix got one million more subscribers thanks to the program that portrayed the life of ‘El Sol’, only in its first season. The Mexican also revealed that Luis Miguel earned $ 5 million for the series, an amount that was allocated entirely to the singer Alejandro Fernández. At the end of this article, we do not find exact figures of how much he received for the second season, but it is estimated that he will receive 15 million dollars.

What is known about the third season

Netflix confirmed a third season of “Luis Miguel, the series” through its Twitter account.

Weeks earlier, one of the executive producers Carla González Vargas had already confirmed at the end of April that there would be a third season during an interview on Instagram Live. He mentioned that a third part of the bioseries is already being worked on.

Netflix wants to put all the attention on this second, but it is already known that there is already a third. Yes, there is a third”, he explained in the interview with El Mundo de Regina.

Ashley Johnson
Ashley Johnson is the lead reporter for Globe Live Media on things related to Astrology, Lifestyle and Music. Being a fitness enthusiast, her background involves growing up in Beverly Hills, where She often interacts with famous Artists and also talks about their ways for a Healthy Lifestyle. She is in fact a profound Yoga student. You can be well assured about the authenticity and quality of Lifestyle, Health, and Music reports published by her.