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Michael Jackson Needs $25 Mil to Keep Neverland

Posted by Fara Kearnes on February 27, 2008 11:16 PM |

michael jacksonThe sprawling 2,800-acre compound known as Neverland, which represented the world of Michael Jackson during his Peter Pan fantasy year, is due to hit the auction block on March 19. The grounds include zoo cages, a miniature steam train and a ferris wheel. Jackson wants it back but no one will give him the $25 million he needs to pay off loans made against the property.

Jackson, 49, has not lived at Neverland since it was raided by the police before his 2005 trial. After he was acquitted, he moved to the Bahrain, but that proved to cause only more problems. He is now being sued by Prince Abd-ullah of Bahrain for allegedly reneging on a deal to make a record and produce a Broadway show for him.

Several financial publications are reporting that Jackson’s personal worth currently sits at less than the money he owes on Neverland Ranch.

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