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Thread: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

   
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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Quote Originally Posted by myosotis View Post
    Sadly, billionaires don't get rich by making generous deals
    Agreed, but Michael signed the deal, nevertheless; it obviously was a deal that suited him better at the time, rather than just selling the property outright. I have a feeling that it wouldn't have been easy to sell it, then, even if he had gone down that road, due to the Global Financial Crisis that occurred at around the same time.

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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Quote Originally Posted by elusive moonwalker View Post
    Hes part of the santa barbara establishment. His involvement and use of thom in pullibg mj in. He business is based on vulturing over those in trouble for his own gain.
    People always want to see Michael as some helpless lamb waiting on the chopping block, when really, he was an astute and cunning businessman. Everyone who worked with him in the business arena says this.

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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Quote Originally Posted by Mikky Dee View Post
    I have a feeling that it wouldn't have been easy to sell it, then, even if he had gone down that road, due to the Global Financial Crisis that occurred at around the same time.
    That’s a really good point. If it’s hard to sell now, it was certainly near impossible to sell it back then.
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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Things has change since the 90's. neverland was probably cheaper then it probably would cost today. yeah it cost a lot money back then but like i said things change since then.

    Michael was most definitely a business man as well. he needed money just like the rest of us. he was human. though. some stuff he did do business for was the fans and the children. i really thank him for doing that. bless him.



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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Quote Originally Posted by Mikky Dee View Post
    Agreed, but Michael signed the deal, nevertheless; it obviously was a deal that suited him better at the time, rather than just selling the property outright. I have a feeling that it wouldn't have been easy to sell it, then, even if he had gone down that road, due to the Global Financial Crisis that occurred at around the same time.
    We have evidence that Michael was either not fully in control of Tohme, or that Michael had very changeable views and opinions at that time:

    viz: 1. Michael said that he agreed to only 10 TII concerts but was contracted for 50 - but then Michael was apparently also aware of the 50-concert run and that he would receive another Guinness record for it.

    2. Tohme signed a contract with Juliens to sell the contents of Neverland - then Michael 'heard about it' (his friends say they talked him out of it) and the deal with Juliens was withdrawn at the last minute, after online bidding had already started.
    The broken contract was said to cost MJ at least $1 million in compensation.

    https://www.theguardian.com/music/20...sale-cancelled

    People always want to see Michael as some helpless lamb waiting on the chopping block, when really, he was an astute and cunning businessman. Everyone who worked with him in the business arena says this.
    Unfortunately his 'astuteness' didn't prevent him from being over $400 million in debt at the time of his death. His purchase of song catalogues was certainly excellent business, but he seemed to monitor his income (ensuring high percentages from recordings) more than his outgoings which were huge and seemingly uncontrolled. He forgot Mr Micawber's principle:

    "Annual income twenty pounds, annual expenditure nineteen pounds nineteen and six, result happiness. Annual income twenty pounds, annual expenditure twenty pounds nought and six, result misery."

    People with bad debts can rarely get good deals on new finance arrangements.


    https://www.latimes.com/local/lanow/...812-story.html

    Jackson’s biggest expense was $30 million in annual payments on his debt when he died in 2009.

    Interest on the loans grew over the years, ranging from a little less than 7% to 16.8% annually, Ackerman said in a downtown Los Angeles courtroom.

    As early as 1993, Jackson owed $30 million, a figure that grew to $140 million by 1998. From June 2001 through June 2009, Jackson’s debt increased by about $170 million. When he died, Jackson owed $400 million to $500 million, Ackerman testified.

    Ackerman said Jackson received no loans after 2007, and at the time of his death, he was three to four months behind on payments for the San Fernando Valley home where his mother lived.

    “He was tapped out,” Ackerman said. ..................................

    But Ackerman, whose testimony is continuing, said the singer was in a “precarious financial position.”

    He provided details of Jackson’s 1985 purchase of the ATV music catalog, which contains many Beatles songs, for $49.5 million. Jackson merged it with Sony’s catalog a decade later, receiving $115 million, along with a guaranteed $6.5 million a year, which was increased to $11 million annually in 2008.

    The CPA also testified that Jackson’s tours in the 1990s were not moneymakers. He said Jackson broke even on the Dangerous tour and lost $11.2 million on the HIStory tour.
    Last edited by myosotis; 21-02-2020 at 12:59 PM.
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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Thome was a plant put in there to give colony what they wanted. His conflict of intrest was totally unethical and would prob be illegal in some countries and/or would certainly make any contract he was involved in debatable if not invalid.

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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    When talking about Michael having debts, dont forget he had to pay his families bills too...

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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Quote Originally Posted by MJTruth View Post
    To be honest there's not much they can do with it even if they bought it back.
    It costs a fortune to maintain so it's a burden that the MJ Estate, as a business entity, could do without.
    I visited Graceland last year. The upkeep probably isn't as much as Neverland, but I think they make a lot of money there.

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    Default Re: Tom Barrack on Plans for Michael Jackson's Neverland Ranch

    Quote Originally Posted by Piek View Post
    I visited Graceland last year. The upkeep probably isn't as much as Neverland, but I think they make a lot of money there.
    I think there is no option to turn Neverland into an attraction due to local zoning laws.

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    Default Neverland Ranch is back on sale!

    Last month, it was announced that the former home of Michael Jackson called “Neverland Ranch” and now called “Sycamore Valley Ranch” was removed from the listing of properties on sale from different Estate Agents.

    However, today, the property is back on the market with the selling price of 2019 of $31 Million.

    Suzanne Perkins Estate agent has relisted the property on their website emphasizing on the fact that tour will be only given to those
    who can provide a financial statement background letter to prove they can purchased the property.

    Sorry fans, the future of the once home of Michael Jackson is still unsure!

    https://www.suzanneperkins.com/portf...-valley-ranch/



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    Default Re: Neverland Ranch is back on sale!

    Quote Originally Posted by NatureCriminal7896 View Post
    Last month, it was announced that the former home of Michael Jackson called “Neverland Ranch” and now called “Sycamore Valley Ranch” was removed from the listing of properties on sale from different Estate Agents.

    However, today, the property is back on the market with the selling price of 2019 of $31 Million.

    Suzanne Perkins Estate agent has relisted the property on their website emphasizing on the fact that tour will be only given to those
    who can provide a financial statement background letter to prove they can purchased the property.

    Sorry fans, the future of the once home of Michael Jackson is still unsure!

    https://www.suzanneperkins.com/portf...-valley-ranch/
    If I ever win big money..... I'm buying it & restoring it the exact same way he had it

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