Michael Jackson Saves Neverland Ranch
March 13th, 2008
Following reports that his former home, Neverland Ranch, was about to be sold at a public auction, Michael Jackson has worked out a "confidential" agreement that permits him to keep his famous California property.
Jackson allegedly owed US$24.5 million on the 2,500 acre ranch, which is located near Santa Barbara in California, with an auction planned for March 19.
Attorney L. Londell McMillan informed The Associated Press that the 49-year-old had worked out a "confidential" agreement with Fortress Investment Group, LLC. whereby he retains ownership of Neverland.
"Neverland and MJ are fine," McMillan explained.
The famous ranch has remained empty since Jackson’s 2005 acquittal on child molestation charges with no word released on what he plans to do with the property.
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Photo courtesy of SonyBMG.
