31 Temmuz 2014 Perşembe

Michael Jackson's Neverland ranch set to be sold five years after singer's death

Michael Jackson's Neverland ranch set to be sold five years after singer's death 

A source told RadarOnline.com: 'Colony Capital has the legal right to sell the property to pay down the debt they are owed from the loan, interest, management fee and maintenance costs.'
The property is worth around $27 million, but insiders believe it could fetch as much as $60 million because of its famous former owner.
Officials from Michael's estate said they are 'saddened' by the news of the sale but insist they plan to keep the legacy of the Thriller hitmaker - who died of acute Propofol intoxication in June 2009 - going strong at his other former home.
They said in a statement: 'We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael's lifetime, Colony has the right to sell.



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