The Isle of Skye Music Festival has been canceled by organizers for running out of money. Festival organizers reportedly fell into the red by $500,000 Pounds. I'd love to know how and who screwed this up, especially in a year when music festivals are raking in cash. The Reading and Leeds festivals' sold out in just days.

That's bad news for all the rock fans in Scotland who planned to attend this year's festival - which was considered the most "fan-friendly" of all festivals in Europe in 2006.

So, for the memories, here's some audio and video from past Isle of Skye Music festivals.

Here's some memories:

A six-minute set from Kasabian performing at the 2007 Skye Festival:



Video of Echo and the Bunnymen (post punk icons) performing "Lips Like Sugar" at Skye Fest 07:

Labels: 2008 Music Festivals, Festivals, Isle of Skye Festival