Michael Jackson’s Neverland Ranch, sold for $ 22 million

The owners of Neverland, the famous and extravagant ranch in California (USA) that was the singer’s residence Michael Jackson, have finally managed to sell the artist’s property, for sale since 2015, for $ 22 million, a price well below the $ 100 million asking for in 2017.

The buyer has been Ronald Burkle, Co-Owner of the Pittsburgh Penguins Hockey Team and co-founder of investment firm Yucaipa, according to local press. The ranch, named “Neverland” in honor of the magical island of the play “Peter Pan and Wendy”, by the writer JM Barrie, which is reached by flying and where children do not grow up, was bought by Jackson in 1987 to golf magnate William Bone for $ 17.5 million.

Six years after the death of Jackson, who died in 2009 at age 50 from a drug overdose, his heirs put this famous 1,100 hectare complex located in the Santa Ynez wine valley up for sale for $ 100 million.

In 2017, the singer’s heirs reduced the sale price to 67 million and the local press then assured that the ranch was still in an “impeccable” condition, with the “only difference” compared to when the king of pop lived that already there were no elephants, nor the train and the amusement park that characterized it.

But two years later, in the absence of buyers and in the midst of the controversy that broke out in the United States over the publication of the documentary “Leaving Neverland”, which aired HBO and where, over four hours, the accusations of sexual abuse against the singer are explored, the property suffered a further reduction, from 67 to 31 million dollars.

Jackson was acquitted in 2005 in a trial in which he was accused of having abused a young man, while in 1994 he reached a financial agreement out of court with the family of another boy who accused him of the same crime.

The final price of the property, according to The Wall Street Journal, has been 22 million dollars.
According to a Burkle spokesperson, the buyer’s intention is not to establish his residence where Jackson once lived, but rather to invest in real estate so that he can sell it later.

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