Michael Jackson’s Neverland Ranch has been foreclosed and will be auctioned off next month unless the singer pays off a $24.5 million loan, Fox News reported on its website on Tuesday.
The US network said in a report citing official documents that the sprawling 2,800 acres ranch in Santa Barbara County would be sold at auction on March 19 unless the fallen ‘King of Pop’ pays $24,525,906.61.
The auction sale would include the house as well as all personal property inside, including fixtures and appliances, furniture and “all merry go round type devices”, rides and games, the report said.
Fox reported that Jackson — who has not lived in Neverland since June 2005, when he was acquitted of sexual molestation charges arising from alleged incidents involving a young at the property — may let the auction proceed.
A spokeswoman for Jackson, who has been struggling to rebuild his career since his “Trial of the Century”, was not immediately available for comment.
If Jackson, 49, is forced to part company with Neverland it will mark the end of an era for the eccentric pop star, who purchased the property in 1987 before setting out to transform it as a paradise for children.