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Michael Jackson

Neverland Saved (Again)


He got a lucky break!

It’s no secret that Michael Jackson has had major money trouble for years now. Things have gotten so bad recently that his Neverland Ranch has gone into foreclosure and was expected to be sold at auction this week.

Well, someone has just swooped in and saved the 2,700 acre property from being snatched up.

Unlike the majority of Americans in the mortgage crisis, Wacko was saved after an investment firm, Colony Capital, paid the outstanding balance on the property.

In a press release, Jackson said he was in discussions with Colony and its founder, Tom Barrack Jr., “with regard to the ranch and other matters.”

Colony, a Los Angeles-based firm, is “very comfortable” holding the loan while it negotiates payment terms, a person familiar with the situation said.

Uh huh! Nothing comes from free!

Something’s gotta give!

Why does Wacko even care about Neverland at this point???

He hasn’t even lived there since 2005!

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May 12, 2008 09:00am PDT

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