Neverland Ranch, the sprawling 2,800 acre property in Santa Barbara County, California, owned by Michael Jackson, will be put up for sale at a public auction on 19 March unless the former pop king pay up the $23 million loan.
Jackson bought the estate in 1988 for $30 million as his private amusement park and home, naming it Neverland after the whimsical land where children never grow up in J.M. Barrie's classic Peter Pan story.
But is no longer in operation since his June 2005 acquittal of child molestation charges. In March 2006, Jackson was fined for failing to pay his Ranch employees' salaries and insurance payments since December 2005.