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Thread: From The Estate: Colony Capital To Sell Neverland Ranch (The Estate Responds - page 63 post 945)

   
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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    That really sucks. I thought that the Estate had a bigger stake in the place than Colony Capital, or maybe I'm not understanding something here? Sad. It should go to Michael's kids. I hope eventually they will be able to buy it back.
    "Girls want to see some cake."

    My Twitter: http://www.twitter.com/edog85

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    Quote Originally Posted by Justthefacts View Post
    unless you have money to burn on an empty property you are in no position to say what they should be doing with the ranch
    My guess is they already have a serious buyer interested, hence the announcement that they're going to sell it.

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    I've read several stories over the past few years of those who were rumored to be interested in purchasing it: (This is just tabloid gossip though).

    Lady Gaga, Justin Bieber, Beyoncé and Jay Z, and some very wealthy businessman from Japan or someplace like that.

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    it's sad because you didn't have to be this way,if they would have just Michael the hell alone

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    Quote Originally Posted by SheilaMJFan4Ever View Post
    My guess is they already have a serious buyer interested, hence the announcement that they're going to sell it.
    This was reported not too long ago. She bought up all his clothes, so the thought of her wanting his house doesn't seem too far fetched to me.

    http://news.msn.com/rumors/rumor-lad...everland-ranch

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    I can't believe it, it's the saddest news in years ( This is one item that OUGHT to belong to Michael. And they owed it to him to sort it out. Buy it back, resolve restrictions, I don't care what and how, but keep it as a historic landmark. I can't freaking believe it...

    Now let's hope Lady Gaga buys it and opens a museum. She seems to understand more about the importance of artifacts than those officially responsible for maintaining Michael's legacy.

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    I hope the buyer is someone who respects MJ, if it weren't for selfish liars accusing him of bullshit it would have stayed as the magical place it once was.

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    This makes me very sad.

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    wow. well...wow
    https://www.youtube.com/watch?v=5z0XD5WmxUM <--- "The Way You make Me Feel Live Vs Video. Check it Out!

    FOR YOU'RE ALWAYS,IN MY HEART
    ITS 2009 AND MICHAEL AND I ARE IN TOUR MODE
    MICHAEL IM COMIN 2 JAM WITH U ON JULY 13TH,2009

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    Very sad, but I understand the practical decision behind it.


    ~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~~

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    Michael may have not wanted to reside at Neverland again however; he fought hard to keep his asset which became part of his legacy like the Sony/ATV catalog. Not all aspects of Michael’s legacy are profitable as is true with all human beings. Not all aspects of Michael’s legacy involved music that can be characterized as profitable.

    Neverland would also be considered an asset to the Estate if purchased outright. Expenses would include maintenance as is with property anyone owns. No one knows what the children would have done with the property as it would have been their right to leave it vacant or use it in a residential manner. That residential land should have been secured for Michael’s children to do what they pleased with it. At least Hayvenhurst was spared.

    Quote Originally Posted by Justthefacts View Post
    unless you have money to burn on an empty property you are in no position I say what they should be doing with the ranch
    Are you addressing me? It is my view and I am allowed to state it. Michael's Estate could afford the property. Unfortunately, it would not be re-zoned as a commercial property with the promise of potential income so they lost interest in keeping Neverland.

    Quote Originally Posted by ivy View Post
    Please check Estate's lawsuit against Tohme. They blamed Tohme for unfavorable Neverland deal.
    Please re-read the statement in the opening post. No mention of Tohme. It is exactly as I quoted it.

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    I do not understand how can it not be considered suitable to be a museum [be it location-wise of whatever] as hundreds of people throughout the 90s visited and enjoyed the ranch. This is absolutely heartbreaking, considering the importance of Neverland to MJ's life, philosophy and history.
    "What though the radiance
    Which was once so bright
    Be now for ever taken from my sight.
    Though nothing can bring back the hour
    Of splendour in the grass,
    Of glory in the flower,
    We will grieve not, rather find
    Strength in what remains behind."
    ~ W. Wordsworth

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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    Quote Originally Posted by Tygger View Post
    Please re-read the statement in the opening post. No mention of Tohme. It is exactly as I quoted it.
    they said an agreement negotiated during Michael's lifetime gave Colony the rights to sell Neverland. If anything they blamed the agreement not Michael. The knowledgeable fans who follow lawsuits know that the negotiated deal has been the topic of Estate vs. Tohme lawsuit in which Estate openly blamed Tohme for bringing an unfavorable deal to MJ and MJ signing the deal without independent counsel. so "Michael's fault" is your biased interpretation of what was being said. Now in your quest to portray Estate negatively you can choose to ignore the very important piece of information from Tohme lawsuit. I can't say I'm surprised.

    and I'll do a reminder for the other people

    May 2008 Tohme and Michael signs a finder's agreement for Tohme introducing Michael to Colony Capital.
    - Estate alleges that Tohme didn't tell Michael that he had a pre-existing relationship with Colony Capital.
    - According to the finder's fee agreement : Michael was to give Tohme 10% of the loan amount ($2.4M), 10% from the future sale of Neverland and 10% from any future transactions with Colony Capital.
    - Estate claims Michael didn't have an independent lawyer and signed the finder's fee agreement without fully understanding and getting independent explanation of it.
    - Estate says Michael signed the agreement because he trusted Tohme and believed the finder's fee amount was normal and customary. Estate argues that these amounts are too high.
    - Estate says Tohme had conflicting roles - working as a finder and working as the manager of Michael.
    - Estate states that the Neverland deal done with Colony Capital was highly unfavorable for Michael. It limited his use and control of Neverland and had unfavorable financial terms.
    - Estate says as Tohme had ties and interest in regards to Colony Capital, he didn't look for better and more favorable financing options for Neverland. (Estate says that they believe other better options were available)
    - Estate says Michael signed the Neverland / Colony Capital agreement without having counsel independent from Tohme and not subject to Tohme's control and authority.

    it should be quite obvious now whose fault Estate thinks Neverland deal is.
    Last edited by ivy; 31-07-2014 at 04:08 AM.
    Twitter : Ivy_4MJ


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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    Quote Originally Posted by morinen View Post
    resolve restrictions

    Now let's hope Lady Gaga buys it and opens a museum. She seems to understand more about the importance of artifacts than those officially responsible for maintaining Michael's legacy.
    Zoning change is not that easy. and believe me even if Lady Gaga or whomever you think to be perfect buys it they would not be magically able to change zoning and open museums and such.

    Even in 2009 CC tried to get a permit for burial and a memorial and even back then it was reported that even neighbors were against even such permits or any zoning change. It's a country side, a residential area with ranches etc. It doesn't have the infrastructure to handle heavy traffic and it doesn't seem like zoning or restrictions would change.

    I'm going to quote another user from another board about zoning

    Quote Originally Posted by smoothmel View Post
    Zoning establishes the legal purpose and use of land. The NLVR is in an area that is used to raise horses animal grazing. His own ranch had grazing rights. It's also residential and rural. The road the ranch is on is a narrow two lane strip with tons of horses and farmland. The environmental fight those residents would launch would not be worth it, not to mention how they would keep this tied up in court for twenty years.
    this is the reality of the situation.
    Last edited by ivy; 31-07-2014 at 04:17 AM.
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    Default Re: From The Estate: Colony Capital To Sell Neverland Ranch

    I don't care what the problems around the ranch were, to be honest, all I know is they failed Michael and his legacy by failing to resolve those problems. The significance of the place for all the good and bad that'd happened there is enormous, the place is a memorial to human magic and the humankind cruelty. Selling it feels to me like saying that it didn't matter. That's all.

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