Entertainment News

Michael Jackson to keep Neverland Ranch

Published: March. 14, 2008 at 10:01 AM
Order reprints

Slideshow

1 of 3

Michael Jackson is escorted to the stage during funeral services for singer James Brown at the James Brown Arena in Augusta, Georgia, December 30, 2006. Jackson arrived shortly after the start of the funeral service for James Brown who died of congestive heart failure on December 25, 2006. (UPI Photo/John Dickerson).. | Enlarge

"Neverland Ranch" search results
"Michael Jackson" search results
"refinancing deal" search results

LOS OLIVOS, Calif., March 14 (UPI) -- Michael Jackson's lawyer said the pop star has worked out a refinancing deal to keep his Neverland Ranch in Los Olivos, Calif.

The 2,800-acre spread was once Jackson's home and boasted a private zoo and amusement park.

It reportedly was scheduled to be auctioned off next Wednesday at the Santa Barbara courthouse after Jackson defaulted on his $24.5 million mortgage.

However, the singer's attorney L. Londell McMillan told the New York Post Jackson has worked out a "confidential" refinancing agreement with Fortress Investment Group so he can retain ownership.

Jackson and his family haven't lived at the Neverland Ranch since 2005.

Additional News Stories

Entertainment News

Report: Rowe won't attend Jackson memorial

LOS ANGELES, July 6 (UPI) --

Debbie Rowe, mother of two of Michael Jackson's children, after first saying she would go now says she won't attend his Tuesday memorial in Los Angeles.