Michael Jackson Has Beat It From Neverland
Michael Jackson's Neverland Valley Ranch will apparently be known by that name nevermore.
The 2,800-acre property is located in Los Olivos, in California's Santa Barbara County. Jackson purchased it from entrepreneur William Bone and opened Neverland in 1988.
TMZ reports that official court documents show Neverland's title was transferred to Sycamore Valley Ranch Company LLC yesterday.
"Sycamore is a joint venture between Michael Jackson and a division of a company called Colony Capital," notes the site. "Colony Capital owns the Las Vegas Hilton, the Red Rock Country Club, and other Las Vegas properties... Colony Capital bailed Jacko out by buying his $23.5 million Neverland mortgage."
TMZ goes on to speculate as to whether Jackson will now begin performing at the the Hilton in Vegas as part of the deal.
If it's true, that could also explain why Jacko was reluctant to commit to joining the reunited Jackson 5 on tour.
Stay tuned to see how this thriller pans out!