Do you enjoy zoos, teacup rides and cardboard standees of Macaulay Culkin? If so, then we have a deal for you:
MICHAEL Jackson may finally be getting rid of Neverland. The self-titled King of Pop quietly put the sprawling, 2,700-acre Santa Barbara estate on the market several years ago to help pay off $200 million in debt – but there were no takers for the tacky ranch until now. According to insiders, distressed debt guru Bill Huff is in serious negotiations to buy the property which includes a zoo, a movie theater and an amusement park. While Jackson wanted $50 million originally, Huff will likely pay something closer to $20 million. Our source said Huff “wants to tear Neverland down and develop the land.” Huff didn’t return calls. Raymone Bain, Jackson’s rep, denied Neverland is for sale: “This is not true.” Wacko Jacko packed up his three children and left Neverland for good in 2005, after it was raided by investigators looking for evidence in child molestation allegations against Jackson, charges on which he was later acquitted.
We’re guessing Mr. Huff is indeed very, very distressed these days. Have you ever tried to unload a cotton-candy grotto in a declining housing market?
NEVERLAND SELLING CHEAP? [Page Six]