Stop the presses! Despite proclamations from Michael Jackson’s camp today to the Associated Press, Neverland Ranch is still in foreclosure.
According to Fox News, Jackson was not able to work out a new deal with Fortress Investments. He did get a postponement of the planned public auction. It will now take place on May 14th, at 1 p.m. in Santa Barbara County.
The shock of this is palpable since Jackson’s reps were convinced they’d made a deal with Fortress to prevent an auction. That plan would have put Jackson’s problems off for a year while his group searched for new financing. They would have to pay Fortress around $6 million for the privilege. So: attention wire services—please update with our credit and don’t accept spin. The $24.5 million Neverland auction is going forward.
Fox News
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