Jacko's Neverland 'saved'
14/03/2008 10:53  - (SA)  

Pay up or lose Neverland, Jacko Jacko won't lose Neverland Jackson could lose Neverland

New York - Michael Jackson has refinanced Neverland ranch in time to save his famed California spread from a public auction that was scheduled for later this month.

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.

"Neverland and MJ are fine," McMillan said.

An auction date had been set for March 19 because of $24.5m the singer owed on the 1011.74 hectares 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.

 

 Yahoo

 

 Digg

 Del.icio.us

 Facebook

What is this?

 News24 on mobile

 News24 on facebook profile