Opera Australia left with $1 million shortfall as HGO breaks off the engagement & hands back the Ring

We noted earlier this week that Huston Grand Opera had announced that they would be staging the Valencia Ring over the next four seasons. What was odd, is that the Melbourne Ring is a co-production between Opera Australia and HGO. Would HGO be staging one Ring while part funding another? The answer now seems to be not and the decision has left Opera Australia with a £1 Million shortfall. More, as it arrives.