Remember Michael Jackson’s iconic Neverland Ranch? Every kids fairyland. Well, it’s about to be sold.
Colony Capital, the organization in charge of the stake, has ultimately decided to sell it, according to Radar Online.
“Colony Capital has the legal right to sell the property to pay down the debt they owed from the loan, interest, management fee, and maintenance costs,” the outlet reported.
Representatives of Jackson’s estate reportedly told Forbes Magazine, “We are frustrated, bitterly disappointed and saddened that it has come to this.”
Despite Colony Capital’s promise to keep Michael’s wondrous legacy in mind, fans continue to be understandably upset.
There’s really no denying that 5 years later, Jackson is still very much missed.
Neverland Ranch is said to be 2,700 acres and was the late star’s home from 1998 till 2004.
Whatever Neverland Ranch becomes, we’re sure it will always be first and foremost associated to the King of Pop himself.