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Artist News
Michael Jackson’s Neverland ranch set for sale
By Chris Cooke | Published on Monday 4 August 2014
Michael Jackson’s former home Neverland could soon be on the market, according to the finance firm that has controlled the property since 2008 when it helped bail the late of king of pop out during one of his debt crises.
It was the singer’s famous home for nearly two decades, before he decided to shun the property in the wake of his 2005 acquittal over child abuse allegations – the unproven abuse alleged in the case having supposedly taken place at the ranch. There was speculation before Jackson died that he might sell the property – or lose it as a result of defaulting on loans – and new rumours circulated about the future of the site after his untimely death in 2009.
There was much talk of turning it into a Graceland-style museum honouring Jackson, maybe with his body buried there as well, though those plans never seemed too real, not least because of all sorts of planning restrictions that would make such a set-up tricky to launch. Other rumours included that the Jackson Estate would buy the site back for Jackson’s children, or to launch a music academy.
But it seems the Estate – which, it’s thought, does still have an interest in Neverland – has no plans for the site, so Colony Capital has been sprucing it up, removing some of the iconic Jackson idiosyncrasies, and will now put the property up for sale. It’s a large valuable bit of land to start with, though its history could increase the price tag further if mad rich Jackson fans start to bid.
According to Billboard, Colony’s Thomas Barrack Jr said in an email last week: “We’ve really just been custodians of an irreplaceable estate and are proud to say we’ve restored it to the original elegance Michael first envisioned. We are now considering putting it up for sale”.
