Ranch won't be auctioned off
Thursday, 13 March 2008
Michael Jackson has found the cash to stop Neverland being auctioned off, says his lawyer.
The eccentric singer bought the ranch in California in 1987 but abandoned it after being found not guilty of child molestation charges in 2005.
The property was due to go under the hammer on 19 March.
Now the singer has agreed a 'confidential' deal with the Fortress Investment Group which allows him to keep his home.
'Neverland and MJ are fine,' Michael's representative L Londell McMillan tells BBC News. 'I know for a fact that he wasn't going to lose it.
'It's quite normal for anyone who's a success to have a mortgage on their property because they can get better rates for their money.'
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