Skip to main content
BBC NEWS / ENTERTAINMENT
Graphics VersionBBC Sport Home
News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia | UK | Business | Health | Science & Environment | Technology | Entertainment | Also in the news | Have Your Say |
Entertainment Contents:  Arts & Culture

Thursday, 13 March 2008, 18:10 GMT

Michael Jackson 'saves Neverland'

Neverland ranch - 2003 file photo Pop star Michael Jackson has refinanced his Neverland ranch to save it from being auctioned off, his lawyer says.

Mr Jackson had been told that if he failed to pay $25m (£12.5m) he owed on the sprawling California property, it would be auctioned next week.

L Londell McMillan said the singer had now worked out a "confidential" agreement with an investment group which meant he would keep the property.

"Neverland and MJ are fine," Mr McMillan said.

The deal had been struck with the Fortress Investment Group, he added.

The reclusive singer owed more than three months' arrears on the property.

If he failed to make the payments, the auction was due to go ahead on 19 March.

Fantasy land

Matt Fiddes, a family friend of Mr Jackson and his brothers, said the problem had been exaggerated by "tabloid gossip".

"It's quite normal for anyone who's a success to have a mortgage on their property because they can get better rates for their money"
Matt Fiddes
Family friend


"I know for a fact that he wasn't going to lose it," he told the BBC News website.

"It's not a problem - Michael's keeping Neverland."

He added: "I've spoken to his brother, Tito, about it and it's not like it is in the papers.

"It's quite normal for anyone who's a success to have a mortgage on their property because they can get better rates for their money."

Michael Jackson

The star, best known for songs such as Bad, Thriller and Billie Jean, has not lived at the property since his acquittal on child molestation charges in 2005.

He bought Neverland in 1987 intending to create a fantasy land for children.

It is named after an island in the story Peter Pan, where children never grow up.

After he purchased Neverland, Jackson built a zoo and fairground on the 2,800 acre (1,100 hectare) property north west of Santa Barbara.

It was closed in 2006 after he failed to pay his staff or maintain proper insurance.




E-mail this to a friend
Related to this story:
Jackson faces Neverland auction (27 Feb 08 |  Entertainment )
Jackson 'will not lose Neverland' (10 Nov 07 |  Entertainment )
Jackson 'ignores negative press' (08 Nov 07 |  Entertainment )
Jackson shuts down Neverland home (17 Mar 06 |  Entertainment )
Inside Jackson's fantasy estate (10 Mar 06 |  Entertainment )

RELATED INTERNET LINKS
Michael Jackson
The BBC is not responsible for the content of external internet sites



SEARCH BBC NEWS: 

News Front Page | Africa | Americas | Asia-Pacific | Europe | Middle East | South Asia | UK | Business | Health | Science & Environment | Technology | Entertainment | Also in the news | Have Your Say |
Entertainment Contents:  Arts & Culture

NewsWatch | Notes | Contact us | About BBC News | Profiles | History

^ Back to top | BBC Sport Home | BBC Homepage | Contact us | Help | ©