Michael Jackson Escapes Auction, Keeps Neverland

July 12, 2008

Michael Jackson has managed to avoid an auction which would have caused him to lose his home, Neverland Ranch...Hollywood (ChattahBox) – Michael Jackson has managed to avoid an auction which would have caused him to lose his home, Neverland Ranch.

Jackson was happy when it was noted that he was able to avoid the foreclosure auction of his Neverland Ranch.

At the last minute, the loan was purchased by Colony Capital LLC, saving Jackson and allowing him to keep Neverland.

In a statement from a Jackson spokesman, he was “pleased with recent developments involving Neverland, which would allow him to focus on the future.”

Neverland Ranch is the legendary home of Jackson which he purchased in 1988 for $28 million. It includes a roller coaster, arcades, a zoo, ferris wheel, and more.

Jackson was able to delay the auction a little while back in hopes that he would be able to find a loan company to buy out the loan and let him keep his home. He has managed to do just that, but the future is still filled with a big question mark for now.


Comments

Comments are closed.