[ad_1]
Ten years after his death, Michael Jackson’s Neverland Ranch (1958-2009) was finally sold. The King of Pop acquired the famous Santa Ynez Valley, California estate in 1988. It is 193 kilometers north of Los Angeles. The singer had bought the property, which was still called Sycamore Valley Ranch then, for the equivalent of 17.4 million francs.
The ranch was abandoned by the pop star after his trial on charges of sexually abusing a child. After financial difficulties, he signed the ranch with Colony Capital LLC in 2008.
Ron Burkle is the new owner
The ranch has now been purchased by a multi-billion dollar investor for a fraction of the original asking price. The new owner of the 1,100 hectare property is Ron Burkle (68), as announced by his spokesman. Burkle is the director of Soho House, a private membership club for people in the entertainment and media industries. Burkle owns properties in New York, London, Los Angeles and Hong Kong.
According to the “Wall Street Journal”, the property was sold for 19.6 million Swiss francs. In 2015 it was advertised for 89 million francs. Two years later it was listed again for 60 million francs. Seeing the property from the air while exploring other properties, he contacted Tom Barrack, 73, founder of real estate company Colony Capital LLC, to handle the sale. The ranch was no longer on the market at this time.
Own rides in zoo and amusement park.
Neverland Ranch, a name taken from the Peter Pan story about a boy who refused to grow up, became Jackson’s favorite haven. It was famous for its attractions at the zoo, railroad, and theme parks. The ranch also offers a main house with six bedrooms and three guest houses, a waterfall lake, several tennis courts, and a movie theater.
It was also the place where he invited the children, one of whom denounced the singer for sexual harassment. That led to a 2005 trial and Jackson’s acquittal of all charges. Michael Jackson vowed never to return to Neverland after the trial. (bsn)
