From the AP

Michael Jackson reached an 11th-hour deal to refinance his troubled Neverland Ranch, his lawyer said Thursday, avoiding a public auction of the property that had been scheduled next week.

Jackson attorney L. Londell McMillan told The Associated Press the pop star has worked out a “confidential” agreement with Fortress Investment Group LLC allowing him to retain ownership of the famed property in Los Olivos, Calif.

“Neverland and MJ are fine,” McMillan said.

A representative for Fortress did not immediately return a call for comment.

The property was scheduled to be auctioned March 19 after Jackson went into default on the $24.5 million he owes on the 2,500-acre spread in the rolling hills of central California’s wine country.

A representative of Financial Title Co. of San Francisco, which filed the default notice, did not immediately return a call for comment.

A source close to Jackson, who requested anonymity because of the sensitivity of the matter, said it’s not clear whether the entertainer will keep Neverland.

 

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From Roger Friedman, Foxnews

Michael Jackson’s Neverland Ranch is set be sold at auction on March 19.

Jackson received word Monday from Financial Title Company, the trustee, that unless he pays off $24,525,906.61 by that date, a public auction will go forward in Santa Barbara, Calif., in front of the county courthouse.

It’s not just the house either. When Neverland is auctioned, it will include everything: all personal property inside, all fixtures and appliances, furniture, and “all merry go round type devices,” any rides, games. The auction literally includes every single thing that is or isn’t nailed down.

 

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