I've put this in a separate thread to make sure everyone sees it, but feel free to merge!

As well all thought, Neverland is saved my MJ himself!

http://ap.google.com/article/ALeqM5hZNgbrgnco68wdSY5q0bFdgp2MYgD8VCL2880

Jackson Lawyer: Neverland Ranch Saved
By NEKESA MUMBI MOODY – 11 minutes ago

Michael Jackson has refinanced Neverland ranch in time to save it from a public auction that was scheduled for later this month.

Jackson attorney L. Londell McMillan told The Associated Press on Thursday that the pop star has worked out a "confidential" agreement with Fortress Investment Group, LLC. The deal allows him to retain ownership of the famed property in Los Olivos.

"Neverland and MJ are fine," McMillan said.

An auction date had been set for March 19 because of $24.5 million the singer owed on the 2,500-acre spread northwest of Santa Barbara.

A source close to the singer who requested anonymity because of the sensitivity of the matter said it's not clear whether Jackson will keep Neverland. Jackson has not lived there since his acquittal on child molestation charges in 2005.

Ooh, I saw this on CMJ just a couple of minutes ago. I'm so glad he saved it, and if it so happens that he does want to sell it, well better he does it under his own circumstances :)

Is it true?

The 2 dudes who wanted to buy it were just on Richard and Judy yapping about it

Thank GOSH he saved it.
*phew*

WONDERFUL news. :)

that's great news

thanks for sharing

~* jennifer *~

thank god for that

That's great!

Is it true?

The 2 dudes who wanted to buy it were just on Richard and Judy yapping about it

What did they say? :)

I just read this in CMJ too. I really hope this is true! No matter what happens Neverland will always be a part of Michael. I truly hope he will find a way to forgive it and return home someday.

Fantastic news! :D

What did they say? :)

They said they were flying out on tuesday, and something about the way the auction is going to be, and the kind of stuff they were gonna do with it.

They said they were flying out on tuesday, and something about the way the auction is going to be, and the kind of stuff they were gonna do with it.

By the sounds of it they're gonna be pretty p*ssed when find they gates locked then. I can just see the blank look of Michaels face now as they ask him when they can view the house :XD:

Is this true!? Neverland saved?! :hmm:

http://news.bbc.co.uk/2/hi/entertainment/7295101.stm

Also, what about this? Tito moving to the UK?! :hmm:

http://news.bbc.co.uk/2/hi/entertainment/7294298.stm

It's not exactly hard to see how this is true. Michael's been through this several times before with Encino and the Century City condo - both were saved basically. It really wasn't as bad as people were making out and the info is directly attributed to MJ's lawyer.

I don't want to be negative, but Raymone, Michael's spokesperson also said Michael was never in default.... I hope this is true though. :yes:

Raymone just says what MJ tells her to sometimes and other times she's not up to speed. At the time Raymone told us MJ wasn't in default...he wasn't. A default notice couldn't be issued until recently...90 days after originally filing. It's not the same thing - it was more a warning, but officially not defaulted. Recently WAS officially defaulted. The reason for the time lapse is to take your affairs into account.

eeeeeeeeee!!!!!!!!! WANDERFUL NEWS!!! yayayayayay

Well, I'm glad it's still HIS, so he can sell it himself if he ever wanted to. Great news! :-)

Well, I'm glad it's still HIS, so he can sell it himself if he ever wanted to. Great news! :-)

thats right:)
i wonder if he does want to keep it or not.

Oh, Wonderful!

thats right:)
i wonder if he does want to keep it or not.

Yeah, me too, Damien. I remember during his 45th birthday celebration he said he had the intention of making Neverland "more accessible" to fans, but that was before all the crazyiness, so now I have no idea WHAT he wants to do.

Ever since I was a kid I've dreamed of being there with him somehow, some way, so I kinda hope he doesn't get rid of it 'cause as impossible as that sounds I guess deep down I still hope that comes true! :-)

(I've actually been to the front gates of Neverland, on the day he won the trial I was celebrating there with the rest of the fans, but unfortunately we didn't get to see him or go in)

They showed this on the Today Show this morning in the gossip section- first thing they mentioned. Glad MJ saved it!

Yeah, me too, Damien. I remember during his 45th birthday celebration he said he had the intention of making Neverland "more accessible" to fans, but that was before all the crazyiness, so now I have no idea WHAT he wants to do.

Ever since I was a kid I've dreamed of being there with him somehow, some way, so I kinda hope he doesn't get rid of it 'cause as impossible as that sounds I guess deep down I still hope that comes true! :-)

(I've actually been to the front gates of Neverland, on the day he won the trial I was celebrating there with the rest of the fans, but unfortunately we didn't get to see him or go in)

I think he said during the trial at some stage that he will never live at neverland again- "It's a house I will visit" or something like that. I wouldn't go back if more police raided my house than any other serial killer either. :blink:

thats right:)
i wonder if he does want to keep it or not.

He wouldn't go to the trouble of refinancing if he didn't want to keep it. :hmm: Selling it wouldn't be financially sound considering he's just recently refinanced the place - he'd be selling at a loss.

MJ might just raze the place to the ground and start over, but it won't be so accessible in future. That's how I see it panning out long term.

YAY!! MJ to the rescue! Finally we can put this behind us!

Great News :yes::yes::yes::yes:

He wouldn't go to the trouble of refinancing if he didn't want to keep it. :hmm: Selling it wouldn't be financially sound considering he's just recently refinanced the place - he'd be selling at a loss.

MJ might just raze the place to the ground and start over, but it won't be so accessible in future. That's how I see it panning out long term.

^ :iagree: :yes: I'm glad he still owns it.

I think he said during the trial at some stage that he will never live at neverland again- "It's a house I will visit" or something like that. I wouldn't go back if more police raided my house than any other serial killer either. :blink:

Yeah, you're right, I hadn't thought about that, it probably has some bad memories for him now. But now it's his to do what he wants with it again, and that's what counts, so YAY FOR MJ!!!!!!!!! :laughing:

YAY!! MJ to the rescue! Finally we can put this behind us!

yeah we can...:yes:
we just got a weight off of our sholders...as that saying goes

~* jennifer *~

:iagree::iagree:

I heard he would never go back to Neverland after the accusatoins against him..

but I don't know.

I hope one day he can call it home again!
:)

This is a VERY interesting article:


Michael Jackson's Neverland Ranch saved by Roseburg rail parent
http://www.oregonnews.com/article/20080313/NEWS/22352400

At the same time the Central Oregon & Pacific Railroad is seeking millions of dollars of state aid to reopen a rail spur between Coquille and Eugene, its parent company provided a bailout so troubled singer Michael Jackson could hang on to his Neverland Ranch.

On Thursday, Fortress Investment Group signed a “confidential” agreement that allows the pop singer to retain ownership of his famed property in Los Olivos, Calif.

“Fortress has claimed they do not have the money to invest in the CORP rail line that provides essential service to the Southern Oregon and Northern California economies, but somehow they’ve found the resources to invest in Neverland Ranch,” U.S. Rep. Peter DeFazio, D-Springfield, said. “Their reported $24 million investment in the ranch is just about what it would cost to fully repair the rail line running from Coquille to Eugene and restore critical service to this regional economy.”

The 2,500-acre Neverland spread in the rolling hills of Central California’s wine country was scheduled to be auctioned off next week. The property had gone into default after Jackson had failed to pay the $24.5 million owed on the ranch.

Last month, RailAmerica, the Fortress-owned company that operates the Central Oregon & Pacific, offered to spend $2.9 million to repair a series of tunnels whose condition caused the railroad to shut down the 120-mile spur line without notice in September. However, in the offer made to Oregon Gov. Ted Kulongoski, the company wanted assistance in raising the rest of the $20.4 million for other needed infrastructure improvements to the line.

“It’s unfortunate that they aren’t investing in the lines they have already — the Coos and Siskiyou lines,” said Bob Ragon, executive director of the Douglas Timber
Operators and spokesman for a coalition of shippers that use the Coos Bay spur and CORP’s Siskiyou line between Southern Oregon and Northern California.

Last month, Roseburg Forest Products reported it was spending between $125,000 and $167,000 more a month to ship lumber by truck rather than rail because of the closure of the Coos Bay spur.

A source close to Jackson, who requested anonymity because of the sensitivity of the matter, told the Associated Press it’s not clear whether the entertainer will keep Neverland. Soccer star David Beckham is reportedly interested in the property.

Jackson bought the property years ago from a local cattle rancher and turned it into his personal playground, naming it after the mythical land of Peter Pan where boys never grow up. The singer, who was a star before he reached his teens, has said it was an effort to recreate the childhood he was denied.

He installed a zoo stocked with exotic animals and more than a dozen amusement park rides, including a merry-go-round and a train to rival Disneyland’s.

“I am told they run a small toy train at Neverland, perhaps that is the most rail capacity they are capable of handling,” DeFazio said of Fortress and RailAmerica.

That is an interesting article Marni!

I'm pretty relieved, I think the whole Neverland thing would have ment bad publicity which he doesn't need when releasing a new album, and also Neverland is soooo Michael its reassuring he still owns it. :)

Interesting video from TMZ. Jermaine says Neverland will never be for sale. (please ignore the stupid jokes) Jermaine actually talks in this video.

Jackson Dead Serious About Neverland

Posted Mar 18th 2008 10:00PM by TMZ Staff (http://www.tmz.com/bloggers/tmz-staff/)

(http://www.tmz.com/bloggers/tmz-staff/)
Jermaine Jackson insists MJ's Neverland ranch was never in foreclosure -- and it's for sale "over his dead body."
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That's not exactly the truth though.

Video Link (http://link.brightcove.com/services/link/bcpid353549946/bctid1460812952)

:happy::happy::happy::happy::happy:happy::happy::h appy:

the facts as known at present is that the auction is postponed until may 14th. before that time according to londel mcmilian it will be decided whether to sell the ranch or to try and get refinancing if that is possible due to todays markets.

^ That's right. We have a second thread up with that info- with statements from MJ's lawyer and info about the postponement. You can find it just here (http://www.maximum-jackson.com/discussion/showthread.php?t=880). :)