Studio of Léon Bakst. Costume design for a courtier in The Sleeping Princess, 1921. Watercolor.

The Sleeping Princess, a Financial DisasterDescribed as a “gorgeous calamity” by critics, The Sleeping Princess ran for 115 performances but nearly bankrupted Diaghilev and the Ballets Russes. To finance the lavish production envisioned by Diaghilev, the Alhambra Company gave him an advance against box office receipts of nearly ₤20,000. When Diaghilev could not pay back the loan, a legal battle ensued and the sets and costumes were impounded. The Ballets Russes was barred from performing in England until late 1924. (The Sleeping Princess: music by Petr Ilich Tchaikovsky, partly reorchestrated by Igor Stravinsky; sets and costumes by Léon Bakst; choreography by Marius Petipa, with additional dances by Bronislava Nijinska; premiere on November 2, 1921, Alhambra Theatre, London.)