Applehead777
Proud Member
- Joined
- Jul 25, 2011
- Messages
- 2
- Points
- 0
Michael Jackson has sold Neverland. MJJC admins have decided to allow discussion of this topic because it will be discussed all over the blogs and other forums. All MJJC/Neverland sale discussion and updates will remain in this, one, thread. (Please do not begin additional threads as more facts are known, but keep all discussion in this thread.) Updates will be provided here.
Please do not attack MJJC or the staff for allowing this discussion in the forum. We are only allowing it because it will be widely reported.
Also, please abide by the MJJC rules and respect and support one another in civilized discussion.
Thank you,
Victoria83
~~~~~~~~~~~~~~~~~~~~
Mod Update 1
Hey members, just a couple of notes:
This Neverland thing is big news and will likely be big news in the ENT world for a hot minute. Please feel free to express whatever opinion you have on it.
The only thing we will not tolerate is member attacks and I'm already having to clean the thread of those attacks. Please don't attack the messenger or each other.
Remember people have differing opinions on this matter and some people may express an opinion that you disagree with or take some personal offensive to or you may think is petty, stupid, riduculous --- you can get the drift here.
BUT ALL OPINIONS WILL BE ALLOWED ON THIS TOPIC.
If you need to vent, do so.
We will be opening up another thread for members who feel that they are having a hard time coping with this news [no need to comment on that].
This message will be added to the first post for all to see.
Also, any late breaking news on this topic will be added to the first post, so check back often.
Mello1
~~~~~~~~~~~
Mod Update #2
Jackson’s Neverland Ranch sold for $35 million
By Sam Womack/Staff Writer
Michael Jackson has sold Neverland Ranch to a Delaware-based corporation for approximately $35 million, although the King of Pop retains an interest in the property.
The infamous property north of Los Olivos in Santa Barbara County was transferred from Jackson to Sycamore Valley Ranch Company LLC, which formed in mid-July, according to documents from the county assessor’s office.
Sycamore is a joint venture between Jackson and an affiliate of Colony Capital Inc., a Los Angeles-based company that purchased the entertainer’s $24.5 million mortgage on the property in May, according to a source close to the deal.
The pop star’s private amusement park and home at 5225 Figueroa Mountain Road opened in 1988 and consisted of 2,800 acres. Prior to that, it was a working cattle ranch owned by Bill Bone, a developer who has his own connections to Colony Capital.
A notice of default from a San Francisco title company was served in November 2007 suggesting that Jackson’s ownership of the ranch could be at risk. And a foreclosure auction in May was canceled after Colony Capital LLC purchased the multi-million loan.
Jackson has struggled to pay his debts in recent years after his financial empire crumbled following his arrest in 2003 on child-molestation charges. A jury later acquitted him and he reportedly hasn’t lived at Neverland for the past two years.
LINK: http://www.santamariatimes.com/artic...breaking15.txt
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Mod Update # 3
Michael Jackson gives Neverland to corporation
http://news.yahoo.com/s/ap/20081113/ap_en_ot/michael_jackson
By ROBERT JABLON, Associated Press Writer Robert Jablon, Associated Press Writer – 2 hrs 6 mins ago
[URL="http://d.yimg.com/us.yimg.com/p/ap/20081113/capt.0cb63d7f073f4f308b1ee3ed7d05c9d1.michael_jackson_la118.jpg?x=213&y=321&xc=1&yc=1&wc=272&hc=410&q=100&sig=j4c_6TJAY4NF1DIndfEL3A--"]
[/URL]AP – This Dec. 22, 1993, file photo shows an aerial view of Michael Jackson's Neverland ranch in Santa Ynez, …
LOS ANGELES – Michael Jackson has given up title to his Neverland ranch, transferring the deed to a company he partly controls.
The singer filed a grant deed on the ranch Monday that makes the new owner an entity called the Sycamore Valley Ranch Co. LLC, Tom Pearson of the Santa Barbara County clerk-recorder's office said Wednesday.
Sycamore Valley Ranch Co. is a joint venture between Jackson and an affiliate of Colony Capital LLC, according to a person with knowledge of the transaction who was not authorized to speak on the record and requested anonymity.
The person could not say what would become of the 2,500-acre property in the bucolic, oak-studded hills of Santa Barbara County's wine country, 120 miles northwest of Los Angeles.
A call to an attorney for Jackson, L. Londell McMillan, was not immediately returned Wednesday.
Jackson had gone into default on the $24.5 million he owes on the property and had faced foreclosure before Colony Capital bailed him out earlier this year by purchasing his loan.
Pearson said the deed did not indicate who owns Sycamore.
A listing on the California secretary of state's Web site says the company filed with the state in June. It does not identify its owners, but the company has the same Century City address as Colony Capital LLC.
Colony Capital is a Los Angeles-based real estate investment company run by billionaire Tom Barrack. It owns several properties in Las Vegas, including the Las Vegas Hilton.
The property was called Sycamore Valley Ranch before Jackson bought it in 1988 and began turning it into a miniature amusement park with a zoo, Ferris wheel, roller coaster and other rides.
At the height of his popularity, the superstar invited thousands of children to play on the grounds.
He renamed the ranch after the mythical land of Peter Pan and set about creating the magical childhood experiences he said his career as a child star had denied him.
"It's like stepping into Oz," he once said of Neverland. "Once you come in the gates, the outside world does not exist."
Jackson has struggled to pay his debts since his financial empire began to crumble following his arrest in 2003 on charges that he molested a 13-year-old boy at the ranch. He has not been seen in the Los Olivos area since a jury acquitted him of all charges, and recent aerial photos show the ranch falling into disrepair.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Michael Jackson's Neverland Ranch is sold
Wednesday, November 12, 2008
Reported by: Melissa Mecija
The most infamous ranch in Santa Barbara County has been sold. The King of Pop's Neverland Ranch now belongs to a Delaware-based company, but Michael Jackson's interest in his old home may not be over.
Court documents show the property changed hands from Jackson to Sycamore Valley Ranch Company LLC. It is a sigh of relief for neighbors Kathy Sanguinet and Steve Doran.
"The fans have been a bigger problem," Doran said. "He's never been a problem personally."
But is Jackson's involvement really over?
Sources close to the transaction tell Action News Sycamore Valley Ranch Company is a "joint venture" between the King of Pop and Los Angeles based Colony Capital. That source also says Jackson and Colony Capital will continue business projects together.
Jackson's neighbors knew something was up. Sanguinet says she saw moving vans a few weeks back coming from the ranch.
"They just moved up trucks and big vehicles you could see that they were going to haul stuff out, and you could see them hauling out the circus stuff," Sanguinet said.
Speaking of circus, the two will not miss random strangers and devoted fans curious about Jackson's ranch.
"It was never annoying except during the trial, basically when people were driving around and in the driveway turnarounds all day," Doran said.
"I hope that whoever's bought it, like I said, is someone that's going to be quiet. It's not going to be Hollywood anymore," Sanguinet added.
It is the latest chapter in the Jackson drama-over, at least for now.
Late last year, court documents showed Jackson was behind in more than $23 million dollars in payments for the ranch, but Colony Capital helped bail him out.
The source would not reveal exactly how much the ranch was sold for. We called Colony Capital. They have "no comment" on the whole deal.
Jackson has owned the property since the late 1980s. It is not known if the name "Neverland Ranch" will change.
http://www.ksby.com/Global/story.asp?S=9340227
Dear Members,
I am a blogger, some of you know my site, that will hopefully not be the subject of topic once I reveal this news. It is something I'm sure a lot of you will deem important and it was something I wanted the fans to know before the media got their hands all over it and tore it apart. So this is my favor to you, accept it if you wish and I hope you understand why this is being done.
Michael Jackson has sold Neverland Valley Ranch to Sycamore Ranch LLC and it will be all over the news in less than 48 hrs. I will provide the link that proves this information. To verify for yourselves, type in simply: Jackson, Michael and you shall see that the deeds have in fact been transferred and Neverland Valley is simply no longer owned by Michael Jackson.
I will assume, for the purpose of business that this was done with some thought and if anyone can recall Mr. Jackson's last statement regarding Neverland Valley, they can note that he was positive and that the decisions being made were going in the right direction. I will stick my neck out and state even further that all the recent apperances made by him, with the grin and the smile and confidence, shows that he's not fretting over a piece of property. I hope you guys understand that while some things end, others are just beginning.
http://www.sb-democracy.com/opis/
Please do not attack MJJC or the staff for allowing this discussion in the forum. We are only allowing it because it will be widely reported.
Also, please abide by the MJJC rules and respect and support one another in civilized discussion.
Thank you,
Victoria83
~~~~~~~~~~~~~~~~~~~~
Mod Update 1
Hey members, just a couple of notes:
This Neverland thing is big news and will likely be big news in the ENT world for a hot minute. Please feel free to express whatever opinion you have on it.
The only thing we will not tolerate is member attacks and I'm already having to clean the thread of those attacks. Please don't attack the messenger or each other.
Remember people have differing opinions on this matter and some people may express an opinion that you disagree with or take some personal offensive to or you may think is petty, stupid, riduculous --- you can get the drift here.
BUT ALL OPINIONS WILL BE ALLOWED ON THIS TOPIC.
If you need to vent, do so.
We will be opening up another thread for members who feel that they are having a hard time coping with this news [no need to comment on that].
This message will be added to the first post for all to see.
Also, any late breaking news on this topic will be added to the first post, so check back often.
Mello1
~~~~~~~~~~~
Mod Update #2
Jackson’s Neverland Ranch sold for $35 million
By Sam Womack/Staff Writer
Michael Jackson has sold Neverland Ranch to a Delaware-based corporation for approximately $35 million, although the King of Pop retains an interest in the property.
The infamous property north of Los Olivos in Santa Barbara County was transferred from Jackson to Sycamore Valley Ranch Company LLC, which formed in mid-July, according to documents from the county assessor’s office.
Sycamore is a joint venture between Jackson and an affiliate of Colony Capital Inc., a Los Angeles-based company that purchased the entertainer’s $24.5 million mortgage on the property in May, according to a source close to the deal.
The pop star’s private amusement park and home at 5225 Figueroa Mountain Road opened in 1988 and consisted of 2,800 acres. Prior to that, it was a working cattle ranch owned by Bill Bone, a developer who has his own connections to Colony Capital.
A notice of default from a San Francisco title company was served in November 2007 suggesting that Jackson’s ownership of the ranch could be at risk. And a foreclosure auction in May was canceled after Colony Capital LLC purchased the multi-million loan.
Jackson has struggled to pay his debts in recent years after his financial empire crumbled following his arrest in 2003 on child-molestation charges. A jury later acquitted him and he reportedly hasn’t lived at Neverland for the past two years.
LINK: http://www.santamariatimes.com/artic...breaking15.txt
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Mod Update # 3
Michael Jackson gives Neverland to corporation
http://news.yahoo.com/s/ap/20081113/ap_en_ot/michael_jackson
By ROBERT JABLON, Associated Press Writer Robert Jablon, Associated Press Writer – 2 hrs 6 mins ago
[URL="http://d.yimg.com/us.yimg.com/p/ap/20081113/capt.0cb63d7f073f4f308b1ee3ed7d05c9d1.michael_jackson_la118.jpg?x=213&y=321&xc=1&yc=1&wc=272&hc=410&q=100&sig=j4c_6TJAY4NF1DIndfEL3A--"]
[/URL]AP – This Dec. 22, 1993, file photo shows an aerial view of Michael Jackson's Neverland ranch in Santa Ynez, … LOS ANGELES – Michael Jackson has given up title to his Neverland ranch, transferring the deed to a company he partly controls.
The singer filed a grant deed on the ranch Monday that makes the new owner an entity called the Sycamore Valley Ranch Co. LLC, Tom Pearson of the Santa Barbara County clerk-recorder's office said Wednesday.
Sycamore Valley Ranch Co. is a joint venture between Jackson and an affiliate of Colony Capital LLC, according to a person with knowledge of the transaction who was not authorized to speak on the record and requested anonymity.
The person could not say what would become of the 2,500-acre property in the bucolic, oak-studded hills of Santa Barbara County's wine country, 120 miles northwest of Los Angeles.
A call to an attorney for Jackson, L. Londell McMillan, was not immediately returned Wednesday.
Jackson had gone into default on the $24.5 million he owes on the property and had faced foreclosure before Colony Capital bailed him out earlier this year by purchasing his loan.
Pearson said the deed did not indicate who owns Sycamore.
A listing on the California secretary of state's Web site says the company filed with the state in June. It does not identify its owners, but the company has the same Century City address as Colony Capital LLC.
Colony Capital is a Los Angeles-based real estate investment company run by billionaire Tom Barrack. It owns several properties in Las Vegas, including the Las Vegas Hilton.
The property was called Sycamore Valley Ranch before Jackson bought it in 1988 and began turning it into a miniature amusement park with a zoo, Ferris wheel, roller coaster and other rides.
At the height of his popularity, the superstar invited thousands of children to play on the grounds.
He renamed the ranch after the mythical land of Peter Pan and set about creating the magical childhood experiences he said his career as a child star had denied him.
"It's like stepping into Oz," he once said of Neverland. "Once you come in the gates, the outside world does not exist."
Jackson has struggled to pay his debts since his financial empire began to crumble following his arrest in 2003 on charges that he molested a 13-year-old boy at the ranch. He has not been seen in the Los Olivos area since a jury acquitted him of all charges, and recent aerial photos show the ranch falling into disrepair.
~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~
Michael Jackson's Neverland Ranch is sold
Wednesday, November 12, 2008
Reported by: Melissa Mecija
The most infamous ranch in Santa Barbara County has been sold. The King of Pop's Neverland Ranch now belongs to a Delaware-based company, but Michael Jackson's interest in his old home may not be over.
Court documents show the property changed hands from Jackson to Sycamore Valley Ranch Company LLC. It is a sigh of relief for neighbors Kathy Sanguinet and Steve Doran.
"The fans have been a bigger problem," Doran said. "He's never been a problem personally."
But is Jackson's involvement really over?
Sources close to the transaction tell Action News Sycamore Valley Ranch Company is a "joint venture" between the King of Pop and Los Angeles based Colony Capital. That source also says Jackson and Colony Capital will continue business projects together.
Jackson's neighbors knew something was up. Sanguinet says she saw moving vans a few weeks back coming from the ranch.
"They just moved up trucks and big vehicles you could see that they were going to haul stuff out, and you could see them hauling out the circus stuff," Sanguinet said.
Speaking of circus, the two will not miss random strangers and devoted fans curious about Jackson's ranch.
"It was never annoying except during the trial, basically when people were driving around and in the driveway turnarounds all day," Doran said.
"I hope that whoever's bought it, like I said, is someone that's going to be quiet. It's not going to be Hollywood anymore," Sanguinet added.
It is the latest chapter in the Jackson drama-over, at least for now.
Late last year, court documents showed Jackson was behind in more than $23 million dollars in payments for the ranch, but Colony Capital helped bail him out.
The source would not reveal exactly how much the ranch was sold for. We called Colony Capital. They have "no comment" on the whole deal.
Jackson has owned the property since the late 1980s. It is not known if the name "Neverland Ranch" will change.
http://www.ksby.com/Global/story.asp?S=9340227
Dear Members,
I am a blogger, some of you know my site, that will hopefully not be the subject of topic once I reveal this news. It is something I'm sure a lot of you will deem important and it was something I wanted the fans to know before the media got their hands all over it and tore it apart. So this is my favor to you, accept it if you wish and I hope you understand why this is being done.
Michael Jackson has sold Neverland Valley Ranch to Sycamore Ranch LLC and it will be all over the news in less than 48 hrs. I will provide the link that proves this information. To verify for yourselves, type in simply: Jackson, Michael and you shall see that the deeds have in fact been transferred and Neverland Valley is simply no longer owned by Michael Jackson.
I will assume, for the purpose of business that this was done with some thought and if anyone can recall Mr. Jackson's last statement regarding Neverland Valley, they can note that he was positive and that the decisions being made were going in the right direction. I will stick my neck out and state even further that all the recent apperances made by him, with the grin and the smile and confidence, shows that he's not fretting over a piece of property. I hope you guys understand that while some things end, others are just beginning.
http://www.sb-democracy.com/opis/
Last edited by a moderator:
