Jackson 'will not lose Neverland'

by Yommie | November 10, 2007 at 06:58 am
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Pop star Michael Jackson is in no danger of losing his Neverland ranch due to debt, his spokeswoman has said.

She denied reports that the singer had defaulted on a $23m (£11m) loan on the California ranch, saying he was in the process of refinancing the building.

The ranch was listed on a Santa Barbara County foreclosure report this week.

Jackson left the ranch when acquitted of child abuse in 2005. In August, finance firm Prescient Acquisition said he had debts of $272.5m (£130m).

The 1,100 hectare (2,800 acre) Neverland ranch was named after a fictional world in the story Peter Pan and contains amusement park rides and a zoo.

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