Prince, 51, did not appear during the four-day hearing in Dublin High Court.
But evidence presented by Dublin concert promoters MCD Productions Ltd. - which sued Prince for euro1.7 million ($2.3 million) alleging breach of contract
- demonstrated he had committed to perform in the 82,300-seat Croke Park in June 2008, only to withdraw without explanation 10 days beforehand after 55,000 tickets were sold.
Lawyers for both sides announced an out-of-court settlement Friday. Neither side disclosed the figures involved.
But MCD owner Denis Desmond suggested outside the courthouse that the settlement easily topped euro1 million ($1.35 million) because his company would not be "out of pocket" once Prince paid up.
MCD, Ireland's biggest concert organizers, paid euro700,000 to book Croke Park for the night, advertised the concert aggressively and refunded all 55,000 tickets.
Desmond also poked fun at Prince's reported quote, relayed Thursday by his former William Morris agent Marc Geiger, that he expected Desmond to take the concert's collapse in stride.
"Tell the cat to chill. We will work something out," Geiger quoted Prince as saying during a rare face-to-face meeting on June 3, 2008.
"This cat's very chilled," Desmond said Friday with a broad smile.