Investment Firm Bails Out Neverland

Eccentric Pop King gets to keep fantasy land estate

By Laurel Jorgensen, Newser Staff

Posted May 12, 2008 7:06 AM CDT

(Newser) – 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.

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)

The entrance to pop star Michael Jackson's Neverland Ranch is seen in this Dec. 2004, file photo, in Santa Ynez, Calif. (AP Photo/Mark J. Terrill)

Michael Jackson hasn't lived at Neverland Ranch since 2005. (AP Photo/Itsuo Inouye)

Michael Jackson poses on the red carpet during the RainbowPUSH Coalition Los Angeles 10th annual awards dinner celebrating Jesse Jackson's 66th birthday, on Thursday, Nov. 8, 2007 in Los Angeles. (AP Photo/Danny Moloshok)

« Prev« Prev | Next »Next » Slideshow

To report an error on this story, notify our editors.

More Newser Stories

Jackson's Neverland Foreclosed

2,800-acre ranch is set for sale in March

(NEWSER) - 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»

Jackson Parts With Neverland

Deed turned over to firm owned in part by Vegas real estate firm

(NEWSER) - Michael Jackson's Neverland dream is over, E! Online reports. The star has handed the deed for his now run-down 2,500-acre California ranch to a company owned partly by himself and partly by the real estate firm that owns the Las Vegas Hilton—sparking rumors that a ranch comeback could be on the cards. The site, once home to a thriving zoo and state-of-the-art amusement park, will be renamed the Sycamore Valley Ranch. More»

Jacko Can Keep Neverland

Last-minute deal keeps King of Pop's ranch from public auction

(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. More»

Secret Jackson Tour Video in Bidding War

Two-hour Dangerous film never shown publicly

(NEWSER) - A secret Michael Jackson two-hour tour film is about to become the target of one of the biggest auction battles in pop history. The film was shot in 1993 in Buenos Aires during Jackson's Pepsi-sponsored Dangerous tour. But Jackson was deeply dissatisfied with the project and scrapped the film, reports the Independent . The only known copy is owned by Jackson's Brazilian chauffeur, who could make millions from the film. The driver says the singer gave him the VHS tape as "a reward or bonus" for his "transportation services." He leaked a portion of the video on YouTube until he was stopped by lawyers for Jackson's estate. More»

Michael Jackson's Fatal Syringe Up for Grabs

Could hit Vegas auction house by June with a price tag of $5M

(NEWSER) - Another piece of strange Michael Jackson memorabilia is going up for sale, but this one might win the prize for most disturbing: It is, allegedly, the syringe that administered a fatal dose of drugs. “This is one of the sickest lots ever put up,” a source tells the Mirror , adding that the bizarre souvenir is being shopped around Vegas auction houses with a price as high as $5 million. More»

NEWS FROM OUR PARTNERS

What is Newser?

Face it: there's too much news. At Newser, we choose the most thought-provoking and entertaining stories from hundreds of US and international sources and reduce them to a headline, picture, and two paragraphs. And we do it 24/7—you can come back morning, noon, night (and in between) for something new that matters. Read less, know more.

Learn more »

Partnering with: Slate

View Newser on the mobile website

Investment Firm Bails Out Neverland

Eccentric Pop King gets to keep fantasy land estate

OTHER STORIES ON OUR RADAR

California • auction • celebrity • ranch • Michael Jackson • Neverland • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Jackson's Neverland Foreclosed

2,800-acre ranch is set for sale in March

Jackson Parts With Neverland

Deed turned over to firm owned in part by Vegas real estate firm

Jacko Can Keep Neverland

Last-minute deal keeps King of Pop's ranch from public auction

Secret Jackson Tour Video in Bidding War

Two-hour Dangerous film never shown publicly

Michael Jackson's Fatal Syringe Up for Grabs

Could hit Vegas auction house by June with a price tag of $5M

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?

Investment Firm Bails Out Neverland

Eccentric Pop King gets to keep fantasy land estate

Bookmark & Share

OTHER STORIES ON OUR RADAR

California • auction • celebrity • ranch • Michael Jackson • Neverland • foreclosures

MOST POPULAR STORIES

[ By Views ]

[ By Comments ]

More Newser Stories

Jackson's Neverland Foreclosed

2,800-acre ranch is set for sale in March

Jackson Parts With Neverland

Deed turned over to firm owned in part by Vegas real estate firm

Jacko Can Keep Neverland

Last-minute deal keeps King of Pop's ranch from public auction

Secret Jackson Tour Video in Bidding War

Two-hour Dangerous film never shown publicly

Michael Jackson's Fatal Syringe Up for Grabs

Could hit Vegas auction house by June with a price tag of $5M

About Us

Site

Newser By Users

Community

Site Maps

Tools

More News

What is Newser?