Michael Jackson's brother JERMAINE is leading talks with the owners of the King of Pop's famed Neverland Ranch to reopen the sprawling estate as an amusement park and public museum by next year (10), according to U.S. reports.
Bosses at private equity firm Colony Capital have agreed to trademark the 2,676-acre estate, according to the New York Post.
The project is tentatively called Sycamore Valley Ranch, LLC - the title of a joint venture Jackson entered into with the firm to save Neverland from foreclosure last year (08), and the name of the property before Jackson bought it in 1987.
Developers reportedly filed an application at the U.S. Patent and Trademark Office on 12 August (09) to open the estate to the public as early as Christmas (25Dec09).
A Jackson family source tells the newspaper, "This is important to Jermaine - he is really pushing for this. He has a big vision for Neverland as a museum, tourist attraction and concert venue... Colony Capital wants to open it up as early as the Christmas holidays and no later than February."
Jackson lived at Neverland for almost two decades but vowed never to return after his child-molestation trial in 2005.
Plans to turn the Holmby Hills mansion, where the Thriller hitmaker died in June (09), into a public space were rejected after the home's new owner, French fashion guru Christian Audigier, failed to obtain proper authorisation.
A spokesperson from Colony Capital declined to comment.