Neverland Ranch
Encyclopedia
Neverland Valley Ranch (formerly the Sycamore Valley Ranch)
is a developed property in Santa Barbara County, California
Santa Barbara County, California
Santa Barbara County is a county located in the southern portion of the U.S. state of California, on the Pacific coast. As of 2010 the county had a population of 423,895. The county seat is Santa Barbara and the largest city is Santa Maria.-History:...

, most famous for being a home of American
United States
The United States of America is a federal constitutional republic comprising fifty states and a federal district...

 entertainer Michael Jackson
Michael Jackson
Michael Joseph Jackson was an American recording artist, entertainer, and businessman. Referred to as the King of Pop, or by his initials MJ, Jackson is recognized as the most successful entertainer of all time by Guinness World Records...

 from 1988 to 2005. Jackson named the property after Neverland
Neverland
Neverland is a fictional world featured in the works of J. M. Barrie and those based on them. It is the dwelling place of Peter Pan, Tinker Bell, the Lost Boys, and others...

, the fantasy island in the story of Peter Pan
Peter Pan
Peter Pan is a character created by Scottish novelist and playwright J. M. Barrie . A mischievous boy who can fly and magically refuses to grow up, Peter Pan spends his never-ending childhood adventuring on the small island of Neverland as the leader of his gang the Lost Boys, interacting with...

, a boy who never grows up. The ranch is located about five miles (8 km) north of unincorporated Los Olivos
Los Olivos, California
Los Olivos is a census-designated place in Santa Barbara County, California. The ZIP Code is 93441, and the community is inside area code 805...

, and about eight miles (13 km) north of the town of Santa Ynez
Santa Ynez, California
Santa Ynez is a census-designated place in Santa Barbara County, California, United States. The town of Santa Ynez is one of the communities that make up the Santa Ynez Valley, and features the Santa Ynez Airport for general aviation with a paved 2804 x 75 foot runway. The population was 4,418...

.

The Chamberlin Ranch is to the west, and the rugged La Laguna Ranch, where the Zaca Fire
Zaca Fire
The Zaca Fire was a wildfire which began burning northeast of Buellton, California, in Santa Barbara County, California. The fire started on July 4, 2007 and by August 31, it had burned over , making it California's second largest fire in recorded history after the Cedar Fire of 2003. The fire was...

 began, is to the north. The Santa Barbara County Assessor's office says the ranch is approximately 3000 acres (1214 hectares). It is currently owned by the Sycamore Valley Ranch Company, LLC.

Michael Jackson residence

Jackson purchased the property from golf course entrepreneur William Bone in 1988 for a sum variously reported to be $16.5 to $30 million. It was Jackson's home and private amusement park and contained, among other things, a floral clock
Floral clock
A floral clock or flower clock is a large decorative clock set into a flower bed in a park or other public recreation area.The floral clock was a form of carpet bedding set onto an operational clock-face, invented in 1903 by John McHattie of Edinburgh Parks in Princes Street Gardens, Edinburgh and...

, numerous statues of children, and a petting zoo. The amusement park included two railroads: one 36" gauge with a steam locomotive (Crown 4-4-0, built 1973, with two coaches) and the other a 24-inch gauge amusement train ride-type); and a Ferris wheel
Ferris wheel
A Ferris wheel is a nonbuilding structure consisting of a rotating upright wheel with passenger cars attached to the rim in such a way that as the wheel turns, the cars are kept upright, usually by gravity.Some of the largest and most modern Ferris wheels have cars mounted on...

, Carousel
Carousel
A carousel , or merry-go-round, is an amusement ride consisting of a rotating circular platform with seats for riders...

, Zipper
Zipper (ride)
The Zipper is an amusement-thrill ride popular at carnivals and amusement parks in the United States, Canada, Australia and New Zealand. It features strong vertical G-forces, numerous spins, and a noted sense of unpredictability....

, Octopus
Octopus (ride)
The Octopus is a type of amusement ride in the shape of an octopus. Five to eight arms attached to a central axis spin and move up and down in random, while cars at the end of the arms spin on rotary bolts. Each Octopus ride has the arms attached the middle of the ride. The middle of the ride will...

, Pirate Ship
Pirate ship (ride)
A pirate ship is a type of amusement ride, consisting of an open, seated gondola which swings back and forth, subjecting the rider to various levels of angular momentum....

, Wave Swinger, Super Slide, dragon wagon kiddie roller coaster
Roller coaster
The roller coaster is a popular amusement ride developed for amusement parks and modern theme parks. LaMarcus Adna Thompson patented the first coasters on January 20, 1885...

 and bumper car
Bumper car
Bumper car is the generic name for a type of flat ride consisting of several small electric cars which draw power from the floor and/or ceiling, and which are turned on and off remotely by an operator...

s, and an amusement arcade
Amusement arcade
An amusement arcade or video arcade is a venue where people play arcade games such as video games, pinball machines, electro-mechanical games, redemption games, merchandisers , or coin-operated billiards or air hockey tables...

. Michael Jackson was also an avid art collector. According to Yves Gautier in the book, “Michael Jackson, Backdoor to Neverland”: “Though few know about it, Michael Jackson is a voracious reader and there is a 10,000-volume library in the Neverland Ranch, that focuses on art, psychology and poetry.”

Jackson said in 2005 that he would not return to the property, saying he no longer considered the ranch a home, feeling the 70 police officers had "violated" it in their searches given they did not have a search warrant. In 2006, the facilities were closed and most of the staff were dismissed, with a spokesperson stating that this was the reflection of the fact that Jackson no longer lived there.

Jackson sold this property in November 2008 to Sycamore Valley Ranch Inc, a real estate company that he owned in part.

Financial status

Foreclosure proceedings commenced against Neverland Ranch on October 22, 2007. However, a spokesperson for Jackson said that the loan was merely being refinanced
Refinancing
Refinancing may refer to the replacement of an existing debt obligation with a debt obligation under different terms. The terms and conditions of refinancing may vary widely by country, province, or state, based on several economic factors such as, inherent risk, projected risk, political...

.

On February 25, 2008, Jackson received word from Financial Title Company, the trustee, that unless he paid off $24,525,906.61 by March 19, a public auction
Public auction
A public auction is an auction held on behalf of a government in which the property to be auctioned is either property owned by the government, or property which is sold under the authority of a court of law or a government agency with similar authority....

 would go forward of the land, buildings, and other items such as the rides, trains, and art. On March 13, 2008, Jackson's lawyer L. Londell McMillan announced that a private agreement had been reached with the private investment group, Fortress Investment
Fortress Investment Group
Fortress Investment Group LLC is an investment management firm based in New York, New York. The company went public on February 9, 2007.-History:...

, to save Jackson's ownership of the ranch. Before the agreement, Jackson owed three months' arrears
Arrears
Arrears is a legal term for the part of a debt that is overdue after missing one or more required payments. The amount of the arrears is the amount accrued from the date on which the first missed payment was due...

 on the property. McMillan did not reveal the details of the deal.

On May 12, 2008, a foreclosure
Foreclosure
Foreclosure is the legal process by which a mortgage lender , or other lien holder, obtains a termination of a mortgage borrower 's equitable right of redemption, either by court order or by operation of law...

 auction
Auction
An auction is a process of buying and selling goods or services by offering them up for bid, taking bids, and then selling the item to the highest bidder...

 for the ranch was canceled after an investment company, Colony Capital LLC
Colony Capital LLC
Colony Capital is a private, international investment firm based in Los Angeles, California. The company, founded in 1991, has over 250 employees operating in 11 offices around the world. The company focuses on real estate opportunities around the world either on its own, through funds run by the...

, purchased the loan
Loan
A loan is a type of debt. Like all debt instruments, a loan entails the redistribution of financial assets over time, between the lender and the borrower....

, which was in default. In a press release, Jackson stated, "I am pleased with recent developments involving Neverland Ranch and I am in discussions with Colony and Tom Barrack with regard to the Ranch and other matters that would allow me to focus on the future."

On November 10, 2008, Jackson transferred the title to Sycamore Valley Ranch Company, LLC, and neighbors reported immediate activity on the property, including the amusement rides being trucked along the highway. Jackson still owned an unknown stake in the property, since Sycamore Valley Ranch was a joint venture
Joint venture
A joint venture is a business agreement in which parties agree to develop, for a finite time, a new entity and new assets by contributing equity. They exercise control over the enterprise and consequently share revenues, expenses and assets...

 between Jackson (represented by McMillan) and an affiliate of Colony Capital LLC (an investment company run by billionaire Tom Barrack). The Santa Barbara County Assessor's Office stated Jackson sold an unknown proportion of his property rights for $35 million.

Kyle Forsyth, Colony's project manager, describes the estate's Tudor-style buildings and savannah-like grasslands as "English country manor meets Kenya." Eventually, Colony hopes to sell the ranch, located in Santa Barbara County, in its entirety. Subdividing it, says Mr. Forsyth, "would destroy it."

Since 2009, the Neverland Ranch rides Balloon Samba, Jeeps, Wave Swinger and Dinos have been featured attractions at the California State Fair
California State Fair
The California State Fair is the annual state fair for the state of California. The fair is held at Cal Expo in Sacramento, California.- Schedule Change :...

.

Death of Michael Jackson

Following Jackson's death
Death of Michael Jackson
On June 25, 2009, American singer Michael Jackson died of acute propofol intoxication after he suffered a respiratory arrest at his home in the Holmby Hills neighborhood in Los Angeles. His personal physician, Conrad Murray, said he found Jackson in his room, not breathing, but with a faint pulse,...

, press reports during June 28–29, 2009 claimed that his family intended to bury him at the Neverland Ranch, eventually turning it into a place of pilgrimage for his fans, similar to how Graceland
Graceland
Graceland is a large white-columned mansion and estate that was home to Elvis Presley in Memphis, Tennessee. It is located at 3764 Elvis Presley Boulevard in the vast Whitehaven community about 9 miles from Downtown and less than four miles north of the Mississippi border. It currently serves as...

 has become a destination for fans of Elvis Presley
Elvis Presley
Elvis Aaron Presley was one of the most popular American singers of the 20th century. A cultural icon, he is widely known by the single name Elvis. He is often referred to as the "King of Rock and Roll" or simply "the King"....

. However, the singer's father Joseph Jackson later denied the reports. Construction equipment and gardeners entered the grounds on July 1, prompting speculation that preparations were being made for something related to Jackson's death, but local officials stated that a burial there would not be lawful. Jackson's 2002 will gives his entire estate to a family trust.

The ranch was the setting for two media appearances on July 2, 2009. Jermaine Jackson
Jermaine Jackson
Jermaine La Jaune Jackson is an American singer, bassist, composer, a member of The Jackson 5, older brother of American pop stars Michael Jackson and Janet Jackson and occasional film director...

 took The Today Shows Matt Lauer
Matt Lauer
Matthew Todd "Matt" Lauer . is an American television journalist best known as the host of NBC's The Today Show since 1997. He was previously a news anchor in New York and a local talk-show host in Boston, Philadelphia, Providence and Richmond...

 on a tour of the main house, and he was interviewed on the grounds of the house by Larry King
Larry King
Lawrence Harvey "Larry" King is an American television and radio host whose work has been recognized with awards including two Peabodys and ten Cable ACE Awards....

 for his show
Larry King Live
Larry King Live is an American talk show hosted by Larry King on CNN from 1985 to 2010. It was CNN's most watched and longest-running program, with over one million viewers nightly....

.

In July 2010, California Assemblyman Mike Davis floated the idea of California acquiring the property and running it as a state park. This idea has been introduced before, as such a park could attract thousands of Jackson fans from around the world, bringing in revenue for the state and local area. However, California Governor Arnold Schwarzenegger had called for the closure of many state parks due to lack of funding, and local residents oppose the idea because of the traffic congestion and other problems that a major tourist attraction would bring to this rural area.

In October 2010, reports came out that Michael Jackson's children intended to buy the property.

External links

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