As some of you may know, Michael Jackson’s famed California residence, the Neverland Ranch faced going to public auction on March 19th after non-payments on loans tied up with the property. However, in a turn of events, the King of Pop refinanced the ranch in time to save it from going under the hammer: Jackson attorney L. Londell McMillan told The Associated Press on Thursday that the pop star has worked out a “confidential” agreement with Fortress Investment Group, LLC. The deal allows him to retain ownership of the famed property in Los Olivos, Calif.
“Neverland and MJ are fine,” McMillan said.
An auction date had been set for March 19 because of $24.5 million the singer owed on the 2,500-acre spread northwest of Santa Barbara.
A source close to the singer who requested anonymity because of the sensitivity of the matter said it’s not clear whether Jackson will keep Neverland. Jackson has not lived there since his acquittal on child molestation charges in 2005. {Source}
I personally think it’s best he let it go – too much bad history (no pun intended), however I understand why he didn’t under these circumstances. In any case, Mike really needs to hurry with whatever he’s cooking up – be it an album, concerts or whatever – so as to remind everyone why he is ‘Michael Jackson’ in the first place.
Mikes does need to let it go.