Greed and money have taken over an iconic Sydney live-music venue.

The Basement in Sydney’s CBD is set to lower its curtain for good after insurance giant AMP refused to renew the lease.

The 45-year-old jazz and blues club is one of Sydney’s oldest and has seen the likes of Neil Diamond, Dizzy Gillespie and Herbie Hancock.

There was speculation the venue was set to transform into a new workspace, but an AMP spokesperson claims that’s not their intention.

Alan has slammed the move as “the slow death of live music”.

It comes after the NSW Government introduced lockout laws in 2014.

“Sydney is losing its reputation as an international city because its culture after dark is dead!” he says.

“You listening, Gladys? Please listen to people who know we are not an international city!”

Musician and music teacher Sam McNally wrote to Alan saying “it’s disgraceful authorities are able to shut down venues which are essential for the development of new young talent”.

Speaking with Alan, he says “it really is a crisis that’s unfolding”.

“It’s a complete failure at government level.”

Listen to the full interview below 

Image: Facebook