Skip to: Content
Skip to: Site Navigation
Skip to: Search

July 9, 2008 7:00:49 AM CDT

Learn about Newser Points »

Back to the grid

Jacko Can Keep Neverland

Posted Mar 13, 08 5:32 PM CDT in Arts & Living,  Gossip    Editor's Choice

(Newser) – The King of Pop will live another day as the rancher of Neverland. Michael Jackson made a last-minute deal today to refinance his notorious California homestead and will retain ownership, the AP reports. The 2,500-acre property had been scheduled for a public auction next week after Jackson—who hasn't lived there since being acquitted of child molestation charges in 2005—defaulted on his $24.5 million loan.

“Neverland and MJ are fine,” said Jackson’s lawyer, though a source told AP that the singer might now sell the ranch. Soccer sensation David Beckham is rumored to be among those interested. No one is currently living at Neverland—or riding Jackson’s dozen amusement park rides.

Source Associated Press

Related News

  • Investment Firm Bails Out Neverland

    May 12, 08 7:06 AM CDT
    Investment Firm Bails Out Neverland An investment company has bailed out Michael Jackson’s Neverland Ranch and a foreclosure auction of the 2,500-acre California property—which once featured roaming wild animals and amusement park rides—has been canceled, reports the Los Angeles Times. The financially troubled pop star bought the Los Olivos ranch in 1988 for $28 million. Jackson, who moved to the Middle East after his acquittal on sex abuse charges, will now be able to keep the estate. More »

  • Jackson's Neverland Foreclosed

    Feb 27, 08 3:25 AM CST
    Jackson's Neverland Foreclosed Creditors have foreclosed on Michael Jackson’s Neverland Ranch, which will be auctioned March 19 if the King of Pop doesn't pony up $24.5 million by that date, Fox News reports. If the sale goes through, Jackson would lose everything in the California house, including furniture and relics of its amusement park. He may let it go, Fox says: he beat it for Bahrain in 2005. More »

  • Cash-Strapped Jacko Could Lose Neverland

    Oct 26, 07 2:10 PM CDT
    Cash-Strapped Jacko Could Lose Neverland Michael Jackson has defaulted on a $23 million loan against his storied Neverland Ranch, and he’ll lose the Santa Barbara fortress if he doesn’t pay in 90 days. The King of Pop is in his worst financial situation ever, says Fox News, and speculation is mounting that he’ll declare bankruptcy to limit the damage. More »

Pop star Michael Jackson's home is seen here at his Neverland Ranch, in this Dec. 17, 2004, file photo in Santa Ynez, Calif.   (AP Photo/Mark J. Terrill, file)
The entrance to pop star Michael Jackson's Neverland Ranch home is seen in this Dec. 17, 2004 photo, in Santa Ynez, Calif.   (AP Photo/Mark J. Terrill, File)
This aerial view of Michael Jackson's Neverland ranch in Santa Ynez, Calif., is shown in this Dec. 22, 1993, file photo.   (AP Photo/Mark J. Terrill)
Michael Jackson's Neverland Ranch Investigation   (Getty Images)
prev    next
play

Tags

California  • celebrity  • David Beckham  • Michael Jackson  • default  • child molestation  • Neverland


Loading...

Loading...

Next story from this section »

Today's Most Popular


Other Gossip Stories

What is Newser?

2008 Codie Finalist

Newser gives you more news in less time. We search for the best and most important stories all over the web, read them for you, and deliver concise and sharp summaries—along with links to the full text. Newser provides a way to stay on top of an ever-expanding horizon of news and opinion—politics, sports, business, trends, technology, personalities, crimes, and controversies. Newser keeps you not just better informed, but, with our signature graphic interface and smart condensed format, more enjoyably informed.

Learn more »