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Michael Jackson's auction called off

world Updated: Apr 16, 2009 00:17 IST

A huge sale of items belonging to former "King of Pop" Michael Jackson due to take place next week has been cancelled, the auction house organising the sell-off has confirmed.

Martin Nolan, executive director of Julien's Auctions, said that the hotly anticipated sale had been scrapped after a settlement had been reached with the eccentric pop star's legal team.

Jackson's management company had been attempting to halt the April 22-25 auction despite earlier approving the sale and co-operating with Julien's. "I can tell you that both parties today agreed not to move forward with the auction on April 22," Nolan said on Tuesday.

"The collection will stay together to be returned to Michael Jackson and MJJ Productions." The terms of the settlement were not disclosed but Nolan said both parties were happy with the deal.

More than 1,300 items -- including a customised Rolls Royce limousine and dozens of Jackson's concert costumes -- had been due to go under the hammer in Beverly Hills in an auction expected to raise millions.

Items up for sale had been taken from Jackson's sprawling Neverland Ranch in California, which the singer left and has never returned to following his acquittal on child abuse charges in 2005.