Michael Jackson's Neverland Ranch 'sells for $22m'

The Neverland ranch of the later pop star Michael Jackson has reportedly been sold to a billionaire investor for a quarter of its initial price tag.Ron Burkle, a good former friend of Jackson, recently bought the estate in Los Olivos, California, his spokesman said. He paid out $22m for Neverland, the Wall Street Journal reported, citing public record information and three people acquainted with the deal. The 2 2,700-acre compound was initially stated for $100m in 2015. Since that time Neverland, north of Santa Barbara city, has been on and off the market, listed lately last yr for the lower price of $31m.

Jackson originally paid about $19.5m for Neverland, which he named after a good fictional island where children never grow up in ?JM Barrie's Peter Pan account.The Thriller singer bought Neverland in 1987, so that it is his home through the height of his fame. He switched the ranch into an entertainment sophisticated, creating a zoo and fairground on webpage, where he on a regular basis entertained children and their own families.

In the 1990s and 2000s, Neverland became the centre of various investigations into child sexual assault allegations against Jackson. Jackson denied allegations by Santa Barbara prosecutors that he previously utilized Neverland as a fantasy universe to groom young boys.In 2005, Jackson was tried and acquitted of allegations he abused a 13-year-good old boy at the ranch.