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Michael Jackson To Lose Neverland Ranch To Debt and/or Captain Hook?

10/26/07, 12:52 pm EST


He was once the King of Pop and ruled over the musical landscape. Following commercial slumps and a criminal trial, his dominion was reduced to a mansion and theme park called Neverland Ranch. Now, the final vestige of Michael Jackson’s unironic reign is reportedly on the verge of being taken away, after MJ defaulted on a $23 million loan. Jackson was given ninety days starting October 22nd to repay his debt or risk losing the ranch, which had been shuttered and its employees dismissed since he was accused of using the park as a lure for young children (or since he failed to pay the employees’ salaries and insurance). The ranch was used as collateral for Fortress Music Trust when they loaned the beleaguered pop star $20 million, and after failing to sell another company Jackson’s debt, Fortress is eager to recoup their losses. If we were Jackson, we’d rush up the release of the Thriller reissue. The star still faces a $7 million lawsuit brought forth by Prince Abdullah of Bahrain after MJ reneged on a recording contract, but kept the upfront money. With all this talk of debt, it’s easy to forget that Jackson is still rich. He owns a 50 percent stake in Sony/ATV Music Publishing, including the Beatles catalog, which has an estimated value of $600 million. If Jackson were to declare bankruptcy, however, that stake would be liquidated and auctioned to the highest bidder. But seriously, won’t somebody please think of the llamas.


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Comments

Can't really think of a name | 8/31/2008, 5:30 pm EST

Ok sorry last comment

“Vitiligo can have a significant effect on the psychological well being”
which explains some things
sorry that was really the last comment

Can't really think of a name | 8/31/2008, 5:27 pm EST

By the way he had Vitiligo which is why he bleached himself

Can't really think of a name | 8/31/2008, 5:24 pm EST

Why won’t every one leave him alone?? Sure he dangled a baby off a balcony.And it is a little weird about the sleeping with kids thing.But no one really listened to him.He was abused when he was kid and that would gave messed anyone up i mean,he had his childhood stolen from him.HE made never land as a kind gesture and yeah he messed up on that but it was kind gesture anyways.i used to think he was weird too but I’ve read up about him and listened to his music(REALLY,REALLY good by the way),he really isn’t a bad person,he just made some mistakes.

MOMMY-DEAREST | 8/27/2008, 5:38 pm EST

BLAME THE PARENTS!!!!

WE ARE ALL PRODUCTS OF OUR ENVIRONMENT!!!!!!

Michelette Joinville | 8/9/2008, 11:02 pm EST

To all u loosers who talk bad about the King of Pop, why don’t you go and wash your ass. Its obviously itching and not wash properly or better yet go and fuck yourself. Michael, I love you and will always do, no matter what.

Esmaa | 7/5/2008, 10:31 am EST

Michael we love youu:D

Esmaa | 7/5/2008, 10:31 am EST

Michael we love youu:D

Honesty | 6/13/2008, 2:24 am EST

He is a sick twisted little fuck, black or white, you don’t dangle small children over the balcony, he needs treatment, and haevy treatment at that

martin | 5/6/2008, 10:41 am EST

i love you michael

jackson | 4/13/2008, 12:21 pm EST

midgets

Cassie | 3/27/2008, 9:31 pm EST

LEAVE MICHEAL ALONNEEEEEE

shauna farley | 3/23/2008, 9:08 am EST

michael jackson rocks my world like the song he sang im realy the biggest fan he has ever had he is so so so so so cool i love his hats
and his waist coat i have 3 dvd`s of him and 1 double cd of him and 2
single cds he is so cool i wish i met him

Ryan Sechrest | 3/7/2008, 11:09 am EST

Your so Hot!!!

Ryan Sechrest | 3/7/2008, 11:09 am EST

Your so Hot!!!

Child Lover | 2/27/2008, 7:47 pm EST

“God will always protect good people like MJ”

———————– ————

Surely you jest. Let’s see… Michael went from being a black man to an ugly white woman…BY CHOICE. He had his own nose chopped off dozens of times, was accused of banging little boys on two separate occassions, admited to sleeping with little boys (albeit, “it’s not what you think, it’s innocent”) while giving them alcoholic Jesus Juice, Stole the entire beatles music from his then best friend, Paul McCartney, and worst of all, slept in an oxygen chamber with a monkey.

This is NOT the definition of ‘good people’.

Nas | 2/27/2008, 4:37 pm EST

Enough is enough those who made bad comments about MJ. MJ has entertained us for several years and now he faces the rough side of life,why do we have to make fun of him?do u know what is going to happen to u tomorrow?do u know the position the world is pushing u tomorrow?so what do u want people to say about u?molestation or no molestation how do we know the truth?I don’t blame people here cos racism will never be eradicated ,No one knows what happened behind the closed doors so no one should blame MJ cos only God knows the truth. I’m white and I know we hate blacks for no reason but can we take a minute to ask ourselves a question that who am I?I hate being fuckin white.

I_DROPKICK_BABIES | 2/26/2008, 11:24 pm EST

Dateline NBC should buy it and use it for episodes of “To Catch A Predator”

THAT would be HILARIOUS!

Hairy Balls | 1/14/2008, 10:42 am EST

I LOVE MJ SO MUCH I WANNA BANG HIM

Logan Barnes. | 1/10/2008, 10:07 am EST

ME AND LEXIS ARE GOING THIS SUMMER!

Haha.
No FO REALL!!

(:

I’ll find a way!

MRC | 1/10/2008, 10:06 am EST

lexis;

me you and logan should go together hahah

(:

Logan Barnes! | 1/10/2008, 10:04 am EST

LEXIS,

Your freaking pyscho!
Watch you go and get melested..

Oh Nvrmind.
Your not a little boy (:

I wanna go.
Lets go this summer!

Lexis Niedling. | 1/10/2008, 9:53 am EST

I want to go to neverland ranch !

SOOOOO bad

:)

Whitfield3 | 12/23/2007, 3:21 am EST

Growing up I was a huge fan of Michael’s but as I’ve gotten older I’ve started to see him for what he really is…A FREAK!

Angie | 11/13/2007, 8:05 pm EST

I have been watching Michael’s career since he was a boy of probably ten. I feel that he is the best entertainer living or dead. I do think he secluded himself from the world and was always very naive as to how to behave in order to be accepted in this society. (causing everyone to turn on him and believe the worst) I also believe a lot of people hated him and were jealous of him before any allegations were ever made against him. The white people couldn’t stand for a black man to be so very rich and idolized by his many fans around the world. Unfortunately he lost most of his black fans when his skin became too white to suit them. He had a lot of people who were intelligent and well thought of who considered him as a friend: the late Marlon Brando,the late Gregory Peck and the very much alive Elizabeth Taylor. (among others)

nurse ratchet | 11/11/2007, 1:03 am EST

Brendan london -

interesting point of view, but horribly misspelled and grammatically incorrect (read “your” for “you’re”, among other things.) I’d suggest you stop spending so much time raving about what a great person Michael Jackson is and spend more time learning to communicate in proper English.

Your viewpoint is really kind of misguided and overly worshipful of the formerly gloved one, and your bravado pales in the face of your poor English usage. Spend some time trying to enrich your own life instead of trying to kiss up to his sorry one.

jenny | 11/9/2007, 6:31 pm EST

When will Americans shut their big mouths and mind their own business? MJ has been a star and will die a famous star no matter how hard the world tries to bring him down . God will always protect good people like MJ. God bless you MJ.

MJ Not | 11/8/2007, 4:23 pm EST

He’s a silly, fraction of a man…

his nobs up my tiny boy butt | 11/8/2007, 5:42 am EST

He’s a toss pot - the only white dude with a black heart for boys

MikeK | 11/7/2007, 3:47 pm EST

Hopefully this is just another filthy tabloid fueled rumor. And for all the haters here that say his career is done, let me ask you WHY you take the time to try to offend someone who doesnt even care what you think. Either you have no lives or you just contradicted yourselves.

Adam Roberts | 11/7/2007, 11:00 am EST

I think Michael Jackson is badass. He made me realize that the thoughts I was having about Adam Armor were perfectly OK.

Velma Cruther | 11/7/2007, 2:57 am EST

No castle, no king. Good night.

liz | 11/2/2007, 12:36 pm EST

it does matter becaouse he has children and he needs to pay all he owns or his kids won’t get to know neverland when they grow up.

I love you michael,and keep singing good songs.

Brendan london | 10/31/2007, 7:16 am EST

chinaski : your a stupid uneducated human being. Michael Jacksons music is one off, you will NEVER have such a person like him ever again. He changed the path for music and broke all records! For any pricks out there your all haters because you wish you could be as big as him! so get over it! Oh and if chinaski has a problem with what i’m saying, bring it on, bitch

SHiN | 10/31/2007, 6:09 am EST

i know u can afford 2 pay back the loan so just do it michael. i mean unless u dont want the neverland ranch anymore. but u invested alot of money into havin it built and kept runnin. u should pay off the loan and if u doesnt want it, just fix it up and sell it for millions. because it would be crazy if after all this mess that u just give up on it. nobody knows how long u can keep up this losin money and not earnin any back. be the king of pop again.

imthethriller | 10/30/2007, 3:56 pm EST

cant pay? DOesn’T want to pay. Neverland will be pushed into the ground and hopefully some tree huggers will come out and plant trees and restore the landscape that the gray one has destroyed and defiled during his reign of terror. hear 6 flags is looking for a site for another park.
MJ owns part of SONY he aint broke this is a sacrificial sale!

thanks cwesleyg |

O BTW he doesn’t own the Scotland castle it was a bid.

Internet got great info -but not all of it is true!

MoondanceR | 10/29/2007, 6:32 pm EST

well,
I beleive that he knows what he’s doing, he’s a very smart cookie..
I love you Michael

maz50 | 10/29/2007, 4:12 pm EST

People have been saying bad things about Michael for years including the ignorant fools on here. Bad publicity or not, the man is still going strong. Did you know he just bought Wicklow castle in Ireland for 20 million euros? That’s roughly $40m. Michael Joseph Jackson is a genius in every sense of the word.

HaJa | 10/29/2007, 3:44 pm EST

M.J. and R. Kelly should both be in prison for abusing children. But this is Amerika: “With liberty and justice for all …who can afford it”

Tommy J | 10/29/2007, 3:09 pm EST

This thing has pissed away more money then MC HAMMER!!! why do
we care!!!!!

LISA JACKSON | 10/29/2007, 2:46 pm EST

SHOCKER STORY,
IT IS REALLY NOT A GOOD THING
NOT SAYING THAT IT JUST DOESN’T MAKE THE GOOD OF SENSE.
THAT WOULD HAVE PAID OFF IN THE LONG RUN MY FRIEND.

LISA JACKSON | 10/29/2007, 2:45 pm EST

SHOCKER STORY,
IT IS REALLY NOT A GOOD THING
NOT SAYING THAT IT JUST DOESN’T MAKE THE GOOD OF SENSE.
THAT WOULD HAVE PAID OFF IN THE LONG RUN MY FRIEND.

LISA JACKSON | 10/29/2007, 2:45 pm EST

SHOCKER STORY,
IT IS REALLY NOT A GOOD THING
NOT SAYING THAT IT JUST DOESN’T MAKE THE GOOD OF SENSE.
THAT WOULD HAVE PAIS OFF IN THE LONG RUN MY FRIEND.

Michael Loves Kiddie Porn | 10/29/2007, 12:21 pm EST

Foreclosure is a good route for him to get rid or Neverland ranch…no one will obviously purchase that place after all the negative pub, this way he gets out from under a huge elephant (the property) and gets to wash his (now white) hands of all his horrible misdeeds that occurred there

iguana12001 | 10/29/2007, 11:46 am EST

worlds gone crazy - stop judging the guy - peace

Musical Jenius | 10/29/2007, 10:28 am EST

Re: cwesleyg | 10/29/2007, 9:29 am EST

“I don’t think he cares about the ranch anymore… if he is guilty of everything he has been charged with, he is possibly to ashamed to deal with the place… if he is not guilty, the memories would be too much to deal with… either way his life has been ruined.”

Ruined? Ahh, the fragile and the hopeless.

Re: chinaski | 10/28/2007, 3:05 am EST

“I really don’t understand why people are into his music. I think it’s horrible pretentious cookie cutter pop crap. We all know now that Billy Jean is a phony prentious song, just like his marriage to Lisa Marie was a phony pretentious joke. There’s no truth in his “music”. Fuck this weird ass motherfucker!”

Pretentious? Don’t get the music? Ahh, the fearful and ignorant.

Michael Jackson’s life is not ruined much to the dismay of many media outlets and holier-than-thou self loathers. Also, Billy Jean is not pretentious (you don’t understand that word). Now whether or not you like a particular genre is one thing, but to discredit Jacksons mastery of melody, harmony, beats and performance is nothing short of ludicrous.

cwesleyg | 10/29/2007, 9:29 am EST

I don’t think he cares about the ranch anymore… if he is guilty of everything he has been charged with, he is possibly to ashamed to deal with the place… if he is not guilty, the memories would be too much to deal with… either way his life has been ruined.

Chinaski | 10/29/2007, 2:31 am EST

I know enough.

Musical Jenius | 10/29/2007, 12:29 am EST

Just cause he looks different and acts different doesn’t mean he’s an idiot. There are always 2 sides to a coin, it’s unfortunate that with Jackson the “it’s gotta be the worst” side is all that’s assumed. Frankly, in my opinion he should get rid of neverland anyway, because despite his innocence, his good intentions and generosity regarding the ranch have been soiled.

Yarbles | 10/28/2007, 3:51 pm EST

Man, you folks are a bunch of pricks to someone you don’t know.

shamone | 10/28/2007, 2:30 pm EST

So if Michael Jackson goes broke, life goes on right? so why is this a news story?

roundeye | 10/28/2007, 9:27 am EST

If you want to his BABY, it doesn’t matter if you’re black or white . . . as long as you’re a boy!

that's not funny | 10/28/2007, 7:44 am EST

let the games begin. whatever, dickheads.

chinaski | 10/28/2007, 3:05 am EST

I really don’t understand why people are into his music. I think it’s horrible pretentious cookie cutter pop crap. We all know now that Billy Jean is a phony prentious song, just like his marriage to Lisa Marie was a phony pretentious joke. There’s no truth in his “music”. Fuck this weird ass motherfucker!

Michael Fucko | 10/28/2007, 2:08 am EST

MJ is done. He is paying for all his bad deeds. Now his empire is crumbling on him. Humpty Dumpty fell off the wall…

Yarbles | 10/27/2007, 4:32 pm EST

If Prince can record two albums a year, there’s no reason Michael can’t put one out in seven. Come on, MJ, where’d you go?

Also, KAT, shut up.

kcv | 10/27/2007, 10:09 am EST

the thing is, the guy is an amazing performer and singer, it’s like he forgot what got him all this in the first place…his last cd was in 2001, and he’s pushing 50 years old. weird.

KAT | 10/27/2007, 9:47 am EST

CHILD MOLESTING PERVERT IS SIMPLY GETTING EXACTLY AS HE DESERVES!!

Chinaski | 10/27/2007, 3:30 am EST

too bad the LA fires didn’t torch that fuckin’ thing with him in it!!!

BTW Has Will.i.am punched Michael’s lights out yet for trying to s*** his d***?

t | 10/26/2007, 7:54 pm EST

I hope the employees of Neverland get to keep their jobs. Nobody wants to see Marlon and Tito out of work.

Yo Mama Cass | 10/26/2007, 2:11 pm EST

Little Billy Boy-

You remind me of Dexter. You are truly fucked up. Why don’t you and Oh Beer go hang out in an airport restroom and tap dance.

I hope Jacko can someday own his own Mickey Dees so he can find a home for his monkey.

I am glad he did not get the elephant man, he would have used this trunks.

SVUF | 10/26/2007, 1:53 pm EST

IF he keeps going down the path of debt, he will lose everything…sooner or later. Reissuing his Thriller album isn’t going to save him from debt either. Also, just because MJ has $600 million worth of assets, do you think he can sell those assets for the same amount of money especially if those assets are of book value. There’s a BIG difference between book value and what people are willing to pay for those same assets at market value!In other words, MJ better pray that if and when he has to sell off those $600 million worth of assets to reduce his debt, the market value of those assets better be higher than what they are worth!

Little Billy Boy | 10/26/2007, 1:22 pm EST

Hello. I am 7 year old and I love Michal Jackson. He is the best and loves the children. Please can someone help him and give him the 23 million money so he can keep the Neverland Ranch. I really love him and one time he sent me a picture of himself with his hand down his pants which I thought was really neato! I don’t want anyting to happen to Michal because he always thinks of the children. THank you.

Oh Beer | 10/26/2007, 1:12 pm EST

So why can’t he just pay back the loan? Am I missing something if he’s worth 600mil can’t he sell something to get the 20 to pay the loan? Can someone explain this please.

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