Former Metallica bassist Jason Newsted spoke in an interview by Ultimate-Guitar editor Steven Rosen and explained why his solo band “Newsted” ended. He said:

I did the Newted band thing at my 50th birthday to prove that I still had the guts and I could still go and show those guys half my age and run ’em around the stage.

I knew I could still take it to ’em and I had to prove that to myself. As we started going, we got people like [Mike] Mushok to play and having that kind of talent around you inspired you to do better and inspired me to want to take it around and show off to people.”

He continued:

It cost me an awful lot of money – hundreds of thousands of dollars to take the Newsted band around to the 22 countries we played. But it was worth it for the lessons I learned and the respect that was shown to us and the camaraderie of the band. But I couldn’t continue because the business is such a harsh thing now and so different than what I had known.”

You can read entire interview from here.