Source: Neverland Likely to Become Next Graceland

Insiders dish on what’s going to happen to Michael Jackson’s ranch

By Ted Casablanca, Taryn Ryder Jul 06, 2009 6:52 PMTags
Michael Jackson, Neverland RanchAP Photo/Lois Bernstein; Pool Photographer/Getty Images

After Michael Jackson's somewhat early passing, tons of questions have been raised about how exactly the talented pop star spent the last several years of his life.

Well, from what we're hearing from sources high up in Jackson's life, all of those broke rumors weren't exactly rumors at all.

We're told investors who bailed out Jackson last year never saw Michael's death coming. But now they may wind up making much more dough than they had originally thought...

"The London concerts were solely for the purpose of buying his ranch back," insiders from Jackson's camp tell us.

"Michael had been having financial trouble for years. The loan bought on his ranch was essentially just a hefty favor for the singer. Despite some of the bad memories that happened at Neverland, Michael couldn't part with the ranch. He loved it. He had every intention of buying it back with the money earned over in England."

Since the purchase of Neverland was never intended to be a permanent one, are these investors totally screwed?

"Although that remains to be seen, I don't think so at all," insists a financial guru associated with Jackson and the ranch. "They'll probably make even more money. As of now, the most likely plan is to transform Neverland into a Graceland-type arrangement."

That's right, so for all of you avid Jackson lovers who have been camped out up in Santa Barbara, you might be able to see M.J.'s famous digs sooner than you think. But it'll cost ya, of course. The owners of Michael's huge pad may have one giant obstacle to face first: zoning issues. As much as this museum shrine is everyone's first choice, getting a permit for Graceland No. 2 is hardly simple. Where there's a will, there's a way, though. Especially when money is no object.

The details are still getting worked out, but as of now, the lead solution about what to do with Michael's property will be to turn his house into a museum. Doubt Lisa Marie Presley sees the irony in all of this.

Would you pay to check it out?