Michael Jackson to keep his Neverland Ranch
The King of pop music, Michael Jackson, should be a happy man on hearing the news that the auction of his famed Neverland Ranch in California will not be auctioned as he has refinanced the property. The pop icon who has millions of dollars of outstanding loans had to go all out to save his once famous 2,500 acre home from getting auctioned. There were plenty of rumors that were speculating and one such rumor was that soccer star David Beckham was interested in the Neverland Ranch. The attorney of Michael Jackson, Londell McMillan, told the press that Jackson had come up with a confidential agreement with Fortress Investment Group LLC that made it possible for Jackson to hold the ownership of the ranch.
The property was scheduled to be auctioned on March 19 as he owed the owner of the cattle ranch a huge sum of 24.5 million dollars. Jackson had bought the cattle ranch at the age of 25 years when he was at the peak of his singing career. Michael Jackson has said that he had created the Neverland ranch to fulfill his childhood needs which he never enjoyed as he became a pop star at a very tender age of 12. There is nobody at present living in the Neverland Ranch.
