Michael Jackson's Neverland sale

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Michael Jackson's Neverland sale

Michael Jackson's Neverland ranch is set to be sold at auction.

The singer's fantastic property will go under the hammer on March 19 in California's Santa Barbara's courthouse unless he can raise a staggering $24.5 million to pay off a loan.

As well as the sprawling ranch, the prospective buyer will secure everything inside the property - including all fixtures, appliances, furniture, rides, games and "all merry go round devices".

If no-one meets the auction asking price, Fortress Investments - who originally loaned 'Thriller' star Michael $300 million to pay off his debts - are likely to take possession of the 2,800 acre property and sell it though a Santa Barbara real estate broker.

Michael hasn't lived at the Neverland ranch since June 2005, when he moved to the Middle East kingdom of Bahrain.

In 2006, authorities ordered the property to be boarded up after it was revealed Michael had not paid his employees or kept up with insurance payments.

The eccentric pop star bought the property in 1987, intending to turn it into a "paradise for children".

After installing a parade of fairground rides and a zoo, which included elephants, snakes, giraffes and llamas, Michael opened up his fairytale home to children.

Michael was acquitted of sexual molestation in a harrowing court drama in 2005.

© BANG Media International


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2. Aaron W18 Dec 2008, 6:05am Report

The King of Pop has fallen – could a payday loan help? He encounters financial problem for a couple of years now. It was just announced that an auction would be held, selling personal items of Jackson’s in April of 2009. Two of the items that will be up for sale will be the gates of Neverland Ranch, and his most recognized white glove that he wore in the music video of his song “Billy Jean.” Michael Jackson, also known as “Wacko Jacko,” has been in financial trouble since 2005, after his second trial for child molestation and the near foreclosure of the Neverland Ranch. From that time on the artist of the most best-selling album of all time has been a high profile recluse in the world. A spokesperson for the auction operations has declared that this is not a forced sale. However, those who believe Jackson has been living beyond his means for years would plainly disagree. If you find yourself in some kind of financial dilemma and need some help to recover, apply for a fast payday loan. http://personalmoneystore.com/moneyblog/2008/12/11/michael-jackson-needs-a-payday-loan/

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