 The location of the festival was later moved to Pier 84 under several different sponsors.The festival was sponsored by Rheingold Breweries until 1968, when the task was handled by F. & M. Schaefer Brewing Company.The cost of the annual music festival was about $500,000, and admissions, at $1 per person in 1968, were expected to bring in $250,000 to $270,000 for the summer program, leaving a deficit, picked up by Schaefer, of more than $200,000.