Neverland saved! Michael Jackson's lawyer says a deal is struck to save the sprawling ranch from auction
11 April 2012
Troubled singer Michael Jackson has refinanced his Neverland ranch to save it from a public auction.
The pop star has worked out a "confidential" agreement with Fortress Investment Group, LLC, that allows him to keep the famed property in Los Olivos, according to his attorney L. Londell McMillan.
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"Neverland and MJ are fine," Mr McMillan said.
An auction date had been set for March 19 to pay $24.5 million (15.7 million pounds) the singer owed on the 2,500-acre spread northwest of Santa Barbara.
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A source close to the singer said it's still not clear whether Jackson will keep Neverland.
Jackson has not lived there since his acquittal on child molestation charges in 2005.