British Michael Jackson fans to bid to buy Neverland

Michael Jackson

Newcastle businessmen to launch multi-million pound bid

Mar 10, 2008
2 Comments
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British businessmen Liam Collins and David Bone are set to launch a joint £15 million bid to buy Michael Jackson’s ranch, Neverland, in an attempt to alleviate the singer’s financial crisis.

Jackson must pay off $25 million (£12.5 million) of his debts by March 19 or he faces losing the property anyway in auction.

Entrepreneurs Collins and Bone, who are based in Newcastle, are huge fans of Jackson, and told the Daily Star that they began earning their own fortunes by busking in London, copying his dance routines.

“We really want to see Jacko back on his feet,” Bone said. Collins added: “If it wasn’t for Michael’s music and his fantastic dance routines, it is possible that we wouldn’t be where we are today.”

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MJJChichi

Mar 10, 2008

The recorder's Web site also reveals there was a release of lien on Jackson on February 4, showing he paid off all or part of delinquent taxes to the state of California.
"It seems unlikely that someone would pay off back taxes, only to let the ranch go up for auction a few weeks later," said the real estate source.

MJJChichi

Mar 10, 2008

"Michael Jackson's ranch is not going to be auctioned off at the courthouse," the Jackson insider said. "The financing is all being worked out."
"There are plenty of lenders willing to work with him. The real estate market is very bad right now and Jackson is being affected just like many other Americans," the source said.

The real estate source stated there are other options for Jackson to choose from including selling the ranch directly to another party or making a payment on his $24.5 million Neverland debt that would satisfy the trustee.