Sydney Live Venue Sold Following Band Payment Scandal

Sydney's Bald Faced Stag has been sold just months after its lease holder was sacked for allegedly stealing money from bands who performed at the venue. 

According to Financial Review, Marvan Hotels has sold the famous Leichhardt establishment for $7.98 million.

Metro Commercial Property Group is believed to have closed the deal. 

read more:

• EXCLUSIVE: Bands Allegedly Not Paid As Sydney Live Music Venue Lease Holder Sacked

• EXCLUSIVE: Bald Faced Stag Lease Holder Accused Of Theft Over Missing Band Fees

• EXCLUSIVE: Sacked Bald Faced Stag Lease Holder Responds To Allegations Of Not Paying Bands

The Music broke the story in January that the Stag sacked then-lease holder Scott Mackenzie for "abandonment and non-payment of rent" and that he allegedly owed thousands of dollars to a number of bands, including Anglecorpse, Genetix and The Peep Tempel.

Mackenzie, who was jailed for over three years in 2009 after pleading guilty to stealing more than $5.7 million from a group of companies, has also been accused of "fraudulent behaviour" towards beer and food suppliers, contractors and the Stag's own employees who are "still reportedly owed for weeks worked, leave entitlements and super to which no employee has been paid a cent of since he took over the lease".

Check out the Stag's full statement here.