Jacko Can Keep Neverland

Last-minute deal keeps King of Pop's ranch from public auction
By Jonas Oransky,  Newser Staff
Posted Mar 13, 2008 5:32 PM CDT
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)
camera-icon View 3 more images

(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.