Neverland Ranch no longer Michael Jackson’s
Filed Under: Celebrity | By: Peter Chubb
Nov 13, 2008 | Comments 1
Pop superstar Michael Jackson had handed over his Neverland Ranch to a company he partly controls. Jackson handed over the deeds to Valley Ranch Co. LLC, which is a joint venture between the troubled singer and an affiliate of Colony Capital LLC.
As yet it is not known what will happen with the 2,500-acre property, but I am sure that the Neverland ranch will not remain like it is now. Michael Jackson defaulted on the property, which is reportedly worth $24.5 million.
Jackson looked as though the property would go in to foreclosure, until Colony Capital came to his aid and bailed him out earlier in the year.
CLICK HERE to keep updated with the latest entertainment news, Follow us on Twitter or leave a comment.
i’m french. i’m 19 years old et i’m a fan of michael jackson. i’m very sad michael jackson has sent his ranch. in fact, this ranch welcomed children of all around the world… children which are ill. and now, because of accusations concerned mj and garvin, the king of pop sends his dream since forever: neverland…