It seems the financial crisis has hit everyone these days, including the King of Pop Michael Jackson.
According to official documents, the title to Jackson’s estate, Neverland, was transferred Monday to a company called Sycamore Valley Ranch Company LLC. Sycamore is a joint venture between Michael Jackson and a division of a company called Colony Capital. Colony Capital owns the Las Vegas Hilton, the Red Rock Country Club, and other Las Vegas properties.
Colony bailed out Jacko’s $23.5 million Neverland mortgage and the buzz around Vegas is that Jackson could end up performing at the Hilton in an effort to pay off his million-dollar bailout. Will the next big thing to hit Vegas be the King of Pop? Stay tuned to find out.
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