
Jackson wants to refinance or sell Neverland
‘We expect to have this matter resolved well before May 14,’ says lawyer
http://www.msnbc.msn.com/id/23639847 /
LOS ANGELES - There could be a new owner riding the merry-go-round at Michael Jackson’s fabled Neverland Ranch this summer.
A public auction of the 2,500-acre spread in central California’s wine country had been scheduled for next week after Jackson went into default on the $24.5 million he owes on the property. However, the auction was postponed until May 14 by “mutual agreement” of Jackson and his creditors, said Julie Wagner of Financial Title Co. of San Francisco, the firm that filed the default papers.
“That allows us to refinance or sell the property,” Jackson’s attorney, L. Londell McMillan, told The Associated on Friday. He added that Jackson is looking at both options.
Jackson, who moved out of Neverland more than two years ago, bought the property in the bucolic rolling hills of Los Olivos, 150 miles north of Los Angeles, from real estate baron William Bone in 1988 and turned it into his personal playground. He brought in more than a dozen amusement park rides, including a merry-go-round, Ferris wheel and roller coaster and installed a zoo complete with flamingos, giraffes, elephants and orangutans.
| Poll result (5 votes) |
| I would leave it exactly as it is in tribute to the king of pop | (0 votes, 0%) | Vote |
| I'd level everything and use the property to put up a new Wal-Mart | (0 votes, 0%) | Vote |
| I'd level everything and use the property to put up the world's biggest In-n-Out Burger. 48 drive-up windows, open 24 hours a day. | (2 votes, 40%) | Vote |
| LEAVE JACKO ALONE! | (1 votes, 20%) | Vote |
| Other | (2 votes, 40%) | Vote |