Michael Jackson - Michael Jackson's Neverland Ranch To Be Sold

Michael Jackson's iconic Neverland ranch is to be sold by a billionaire's private investment firm.

According to sources, Tom Barrack's company Colony Capital is planning to put Neverland on the market. The firm currently own a primary stake in the estate after a deal made in 2007, when it purchased the $23 million loan (£14 million) Jackson owed to private investment group, Fortress Investment.

A representative for Jackson's estate tells in a statement, "We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael's lifetime, Colony has the right to sell.

"The estate will maintain Michael's family home in Encino, including its iconic recording studio there... We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property."

Jackson bought the California property in 1988 and stayed there until his child molestation trial in 2004.


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Comments

rosemary moly gomes's picture

rosemary moly gomes

I want to request POP music industries member to think about Neverland

1 month 1 week ago
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m.j. lover and believer 4 life's picture

m.j. lover and ...

I was thinking the same thing @ Yanni54, I hope Lady Gaga does buy it and hold it for the kids. MS's Estate a screwing up BIG TIME MJ made more than enough money since his murder to buy it out a few times over. where is all that money? MJ was the biggest selling artist in the last 4 years he skipped one year when Liz Taylor died but was back at top the very next year where is all that money? I hope it's lady gaga that buys it and does what she said she would do save it for his kids Prince is going to be 18 in February and he could move in there. THIS IS WRONG 23 million and he's going to sell it for something like 60 million??????? WTF

1 month 2 weeks ago
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YANNI54's picture

YANNI54

WHERE IS LADY GAGA? SHE CLAIMED SHE WANTED TO PURCHASE NEVERLAND TO HOLD FOR MJ'S KIDS UNTIL THE TIME WHEN THEY CAN BUY IT FROM HER. WHERE ARE ALL OF THOSE ENTERTAINER, THE SINGERS AND THE RAPPERS, WHO HAVE CONTINUOUSLY USED MJ'S NAME IN THEIR SONGS AND WHO HAS CLAIMED THEY HAVE SO MUCH LOVE AND RESPECT FOR MICHAEL JACKSON WHO COULD AFFORDS TO BUY THIS NEVERLAND PROPERTY EVEN AS AN INVESTMENT VENTURE?? WHY CAN'T THE ESTATE PURCHASE IT SINCE THEY ARE ALWAYS SUING PEOPLE WHO USE AND ABUSE MJ'S NAME AND PROPERTY! NEVERLAND DOESN'T COUNT??

1 month 2 weeks ago
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