Michael Jackson
faces auction of the Neverland ranch
The Neverland ranch will go to
auction if Michael Jackson fails to pay on his loan.
The
most famous pop star in the world counts for nothing if you
don't have money. Michael Jackson is now facing the real
possibility of losing the famous Neverland ranch, after failing
to pay on his loans. Documents show that Neverland Ranch in Los
Olivos, California, is scheduled for a public auction on March
19 at Santa Barbara's downtown courthouse. And if Jackson wants
to avoid losing the Neverland ranch, he must come with
$24,525,906.61 by March 19th to satisfy the trustee.
According to reports in the media,
citing anonymous person close to Michael Jackson, the pop legend
is currently working out a loan, which would prevent the auction
of the Neverland ranch. This rumors is not yet officially
confirmed.
And as it always goes, the bookmakers are already
posting odds on the Jackson-Neverland story. The online
sportsbook
BodogLife is favoring that the
auction of the Neverland ranch will happen on March 19th,
backing it up with odds of -400. If Michael Jackson takes care
of this issue and the property avoids auctioning, the bookie
will pay out on +250. Another bet is how much money would the
Neverland ranch bring, if it gets auctioned - under $28.5
million is the favorite number with odds -240 and over that
amount would pay out on +165 line.
Published on
02/27/2008
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