Conspiracy theories about Michael Jackson’s death went into overdrive last night after it was revealed his O2 concert promoters took out a £12million policy against the gigs falling through.

But the hefty contract with Lloyds of London only covered them in the case of a drug overdose, not if he died from natural causes.

The revelation has caused an online storm, with thousands now speculating wildly on why the promoters AEG Live thought an overdose was an issue.

One source said: “There have been angry phone calls to the promoters.

“People can’t understand why if you were taking out an insurance policy you would focus solely on a drug overdose, unless you knew something that others didn’t.”

They added: “It just doesn’t seem right. People have the right to ask questions.”

But AEG’s chief executive Randy Phillips said the insurance policy would still fall short of the money spent on Jackson’s advance, production of the shows, covering some of his debts and paying his staff and rent, which totals between £15m and £25m.

In another twist, several music industry figures are also fanning the flames of suspicion over the identity of the “Michael Jackson” who appeared in London to promote the sell-out tour that was never to be.

There have been allegations made in internet chat-rooms that a Jacko lookalike was put up.

One person involved in the event at London’s O2 Arena claimed: “I’d met Jacko before and his walk, the sound of his voice and his demeanour were all wrong.

“He only appeared in public for a matter of seconds and barely spoke at all.

“Something about it just doesn’t sit right with me.”

They added: “There are some very good Jackson impersonators out there.

“It wouldn’t have been hard to pull off.”

There are even theories flying around that the megastar, who will be buried in a £15,300, 14-carat gold-plated coffin, may have faked his own death in order to escape the pressures of the 50-gig marathon and is now in hiding in the Middle East.

[cgscott]

How could a man so popular to the media and the world possibly fake his own death.

He could barely take a shite without anyone knowing.

[chroma]

Rockstars... Drug addictions...

No real stretch of the imagination, loo at the stats of just how many icons have died from drugs over the years.