The back injury Bono sustained while rehearsing for the upcoming "360 Tour" in Europe may very well cost U2 up to $150million.

The extensive surgery the U2 front-man had to undergo coupled with a long recovery time meant cancelling 17 tour shows in the U.S. which adds up to quiet a substantial amount of change.

The band also had to cancel their headline slot at Glastonbury music festival this year no doubt costing them millions.

Bono's orders from the doctors were to rest for two months.

A source close to the band told The Sun: "Bono and the band are covered by insurance but the cost of overheads and missed revenue could easily reach £100million by the time he's fit enough to perform again."

U2's manage Paul McGuinness added: "If we play or not, touring still costs us £500,000 a day."

New dates for the postponed US gigs will be announced this week.