Article: Deal struck to stop Neverland auction

MICHAEL JACKSON reached an eleventh-hour deal to refinance his troubled Neverland Ranch, his lawyer said Thursday, avoiding a public auction of the property that had been scheduled next week.

Jackson attorney L. Londell McMillan said the pop star has worked out a "confidential" agreement with Fortress Investment Group LLC allowing him to retain ownership of the famed property in Los Olivos.

"Neverland and MJ are fine," McMillan said.

A representative for Fortress did not immediately return a call for comment.

The property was scheduled to be auctioned Wednesday after Jackson went into default on the $24.5 million he owes on the 2,500- acre spread in the rolling hills of central ...

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