Follow Newser on Twitter   Friend Newser on Facebook
Snappy newsletters. Simple Facebook sharing. Spirited comments. Sweet features are waiting… GET THEM NOW!

Hot on Facebook
Guy Buys $123 Safe on eBay, Finds $26,000 Inside Seller tries to get half the cash back, fails »

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

(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.

Pop star Michael Jackson's home is seen here at his Neverland Ranch, in this Dec. 17, 2004, file photo in Santa Ynez, Calif.
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)
This aerial view of Michael Jackson's Neverland ranch in Santa Ynez, Calif., is shown in this  Dec. 22, 1993, file photo.
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
Michael Jackson's Neverland Ranch Investigation   (Getty Images)
The entrance to pop star Michael Jackson's Neverland Ranch home is seen in this Dec. 17, 2004 photo, in Santa Ynez, Calif.
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)
« Prev« Prev | Next »Next » Slideshow
To report an error on this story, notify our editors.
A snapshot of the day's best news stories.
 
COMMENTS
Be the first to comment on this story.

More Newser Stories

Investment Firm Bails Out Neverland

Jackson's Neverland Foreclosed

Jacko Peed in Front of Kids: Doc

Jon Plus Yet Another Kate

Jackson Family Holds Cemetery Vigil


NEWS FROM OUR PARTNERS
Other Sites We Like:   24/7 Wall St.   |   Betty Confidential   |   BuzzFeed   |   Cracked   |   Fark   |   Timelines   |   The Frisky   |   Geek Sugar   |   NewsOne