Michael Jackson has managed to save his Neverland ranch from being auctioned. The 'Thriller' singer - whose 2,800 acre Californian estate was due to go under the hammer on March 19 unless he could raise a staggering $24.5 million - worked out a deal with Fortress Investment Group LLC to refinance the property. Jackson's lawyer L. Londell McMillan said: "They've sorted out a confidential agreement. Neverland and Michael Jackson are fine." Fortress Investments originally loaned Jackson $300 million to pay off his debts and threatened to sell the property through a Santa Barbara real estate broker if it wasn't sold at auction. Jackson hasn't lived at the Neverland ranch since June 2005, when he moved to Bahrain.
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