Neverland Auction Postponed
Mon, 17 Mar 2008 10:08:59
Michael Jackson Photos
Michael Jackson Videos
While Michael Jackson still owes $24.5 million on his Neverland Ranch, the property's auction has been pushed back until May 14 after a "mutual agreement" between the pop star and his creditors.
"That allows us to refinance or sell the property," Jackson's attorney, L. Londell McMillan, told The Associated. "We expect to have this matter resolved well before May 14."
Jackson hasn't lived at his 2,500-acre home/playground since 2005, when a jury acquitted him of molestation charges. He bought the Neverland Ranch from a real estate baron (William Bone) in 1988.
—The ARTISTdirect Staff