Michael Jackson In Danger of Losing Neverland Ranch Again

February 27, 2008 10:30 AM ET

In what is becoming a regular news item, Michael Jackson is once again in danger of losing his Neverland Ranch to the highest bidder if he doesn't pay up the $24 million he owes by March 19th. A San Francisco title company, Financial Title Co., filed a notice of trustee's sale and set the auction date for the Santa Barbara, CA estate giving Jackson less than a month to pay his debts. Last October, we reported a similar story, with Jackson given ninety days to pay off $23 million. Despite the huge debt, Jackson is still a rich man, with a fifty-percent stake in Sony/ATV Music Publishing (which owns the rights to the Beatles songs) and strong sales on his recent twenty-fifth anniversary edition of Thriller. Thus it seems unlikely that Jackson will lose his Neverland Ranch, and extremely likely that Rock Daily will be reporting this story again in another six months.

Related Stories:
"Thriller"Celebrates Twenty-Fifth Birthday With Video, Podcasts, Radio
New Music Report: Michael Jackson's 25th Anniversary of "Thriller"
The "Thriller" Remixes: Kanye, Akon, Will.i.am and Fergie Try to Top the Chipmunks' "Beat It"

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