Michael Jackson To Keep Neverland In Return For Performing In Vegas?
You know what they say...you scratch my back, I'll save your falling down kiddie pedo ranch from the chopping block. Michael Jackson recently was able to secure a deal with Colony Capital LLC so he could keep Neverland, but everything comes with a price, and it seems this is Michael's:
You see, Michael Jackson was able to keep Neverland Ranch after a loan on the California property was sold to Colony Capital LLC, a Los Angeles based international private investment firm. NOW. Guess who Colony Capital owns? Give you a hint: Between late 2003 and early 2004, Park Place Entertainment Corporation sold the Las Vegas Hilton to an affiliate of Colony Capital LLC for about $280 million. So connect the dots for me, kiddos. An affiliate of the company that owns the Hilton greed to hold the $23.5 million loan it acquired from Fortress Investment Group while it negotiates “payment terms.†And Jackson confirmed he is in discussions with Colony and its founder, Tom Barrack Jr., "with regard to the ranch and other matters." Wonder what they’re NEGOTIATING about? Could it be … A SHOW?? Are we correct in saying that Michael Jackson will sing and dance in the showroom of his former father-in-law, Elvis Presley?
In case you missed it:
A foreclosure auction scheduled [...] for Michael Jackson's Neverland Ranch was canceled after an investment company bought the loan.Colony Capital LLC spokeswoman Caroline Luz said the loan purchase was recently made by Colony and the auction slated for Wednesday was off, the Los Angeles Times reported Monday. [...]
Jackson had gone into default on the $24.5 million he owes on the 2,500-acre spread in Santa Barbara County. He has struggled to pay his debts in recent years after his financial empire crumbled following his arrest in 2003 on child molestation charges. A jury later acquitted him and he hasn't lived at Neverland for the past two years.
So...Michael hasn't lived in his house at Neverland for the past two years, he defaulted on a multi-million dollar loan that is worth more money than most of us will make in a lifetime, he's been through one trial for child molestation and paid off another young boy after he was accused of the same thing (and who knows how many others he's paid off), and this investment company thought that MJ was still enough of a good investment to back? If the music portfolio he has was such a good investment for him, then how come he can't pay his bills? Continued on the next page
