music · 13 March 2008 · 16 years ago
Michael Jackson refinanced his Neverland ranch to save it from being auctioned off, after being told that if he failed to pay $25m (£12.5m) he owed on the California property, it would be auctioned within a week. Jackson bought Neverland in 1987 intending to create a fantasy land for children naming it after an island in the story Peter Pan, where children never grow up.
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