Originally promoted as an exclusive resort for the very wealthy, with supermodels and celebrities, Fire was once marketed as a private island owned by drug lord Pablo Escobar.
Festival-goers arrived to find all the talent canceled, forced to sleep on bare mattresses in tents destroyed by the storm, and limited to cheese sandwiches served in takeaway containers.
McFarland was sentenced to six years in prison in 2018 for wire fraud and was also ordered to repay $29 million to investors.
He was released under an early release program in 2022 but remains on probation until August of the following year.
Ticket prices next year will start at $1,400 but are expected to top out at $1.1 million, according to McFarland.
The most expensive packages include scuba diving, island exploration, and luxury yachting.
He said the event would be “not just about music” and could include sideshows such as a live karate fight arena.
However, he revealed that he has not yet recruited any talent.
