My Celebrity Life

Michael Jackson’s Neverland ranch sells for $22million after huge price reduction

Michael Jackson’s Neverland ranch has reportedly been sold for $22million (around £16million).

It has been bought by billionaire Ron Burkle, according to the Wall Street Journal.

The ranch, spanning 2700 acres, was originally on the market for $100 million (£73 million) in 2015 with the price being slashed to $31 million (£22 million) as recently as last year.

Burkle is a onetime associate of the late singer, who died in 2009.

Jackson left the sprawling ranch, located north of Santa Barbara in Los Olivos, four years before his death following his trial on child molestation allegations.

Neverland, which included a theme park and a railroad on the grounds, became the focus of the trial with prosecutors alleging he had abused young children there.

The ranch has sold for $22million (Picture: REX)

The Neverland Ranch was named after the fantasy island in Peter Pan. The property also featured a petting zoo, a Ferris wheel and basketball courts.

The Thriller singer bought Neverland in 1987 for a reported $19.5 million (£14.8m).

The sprawling ranch included a theme park (Picture: REX)
The singer vacated the estate four years before his death (Picture: REX)

After Jackson’s death the huge estate was left to fall into disrepair and the amusement park was removed.

It previously was the subject of controversial documentary Leaving Neverland, which put forward abuse allegations made by Wade Robson and James Safechuck against the singer.

Jackson’s estate strongly denied all allegations, calling the film ‘the kind of tabloid character assassination Michael Jackson endured in life, and now death’.

 


Credit: Original article published here.

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