How Much Will Michael Jackson’s Neverland Fetch On The Open Market?

Sources: Forbes – By Zack O’Malley Greenberg | All Things Michael

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In 1988, flush with the profits of Thriller, Michael Jackson purchased the Sycamore Valley Ranch for $17.5 million. Today, the Los Olivos, Calif. estate is known to the world as Neverland—and its value has changed even more dramatically than its name.

As FORBES first reported last night, billionaire Tom Barrack’s Colony Capital is preparing to place the 2,700-acre property on sale, six years after it took over a $23 million note on Neverland and became its managing partner. In an interview for my book, Michael Jackson, Inc, Barrack himself suggested the property could be worth as much as $100 million; other real estate veterans have similarly lofty views.

“There are only so many mega-properties,” said Southern California realtor Josh Altman, also in an interview for my Jackson biography. He believes Neverland could fetch $75-$85 million on the open market.

In order to fully appreciate the scope of Neverland, one must visit the sprawling sepia ranch in person. A two-and-a-half hour drive from Los Angeles, the latter portion of the journey occurs on treacherously twisting mountain roads; the property is nestled amidst 67,000 sycamore trees, at the foot of a 3,000-foot peak that Jackson named Mt. Katherine, after his mother.

Through the main gate, a mile-long private road winds up to the main house, a seven-room, thirteen-bathroom mock-Tudor with a backyard four times the size of Monaco. Jackson’s amusement park rides and his zoo were hauled off long ago (haunted by accusations of child molestation, he moved out of the property after being found not guilty of all charges against him in a well-publicized 2005 trial).

There’s still a swimming pool with an extra-high diving board, a miniature lake and a two-story edifice that once held Jackson’s vaunted video game arcade. Other buildings include a lakeside guest house, a full-sized movie theater and a redbrick replica train station, which sits atop a knoll with a massive functional clock made of flowers and the word “NEVERLAND” spelled in shrubbery on the hillside.

“Michael was Peter Pan, it was Neverland,” Barrack told me last year. “It was the only place I think that he actually found peace.”

To be sure, there are others who have placed a much lower number on the property than Barrack and Altman. Neverland has reportedly been valued at $30.3 million by Santa Barbara County, while a 2002 appraisal pegged it at $50 million.

For such a unique property, however, all it takes is one eager billionaire or wealthy entity to drastically drive up the price. Don’t expect Jackson’s estate, which still owns non-controlling share of the property, to buy out Colony.

“We are frustrated, bitterly disappointed and saddened that it has come to this,” said a representative from the estate in an email earlier today. “Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager. The Estate explored numerous options, including a purchase, but financial, land use and zoning restrictions have made all of the proposed options prohibitive given our duty as Executors to be fiscally responsible in protecting and growing the assets of the Estate for Michael’s children.”

Colony would likely receive the first $50 million or so of any sale (to cover the $23 million note plus tens of millions plowed into the property’s upkeep over the past six years). If Neverland’s sale price is on the lower end of the spectrum, it’s possible that the estate might not receive anything; on the high end, though, Jackson’s heirs could receive a multimillion-dollar windfall.

In that case, Michael Jackson would also earn posthumous proof that his instincts in buying the property weren’t as outrageous as many observers once suggested: a sale of $70 million would represent a four-fold increase in value over purchase price.

 Read more at Forbes

 

 

God’s Glorious Animals And Why Michael Loved Them So Much

Source: A Place In Your Heart (Blog Talk Radio) | All Things Michael

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Date: Saturday, August 2, 2:00 PM Eastern Time

We have spoken about people who could communicate with animals. Michael was such a one. He was more than an dog whisperer, Michael was an animal whisperer.

“…I enjoy nature too much…. I know the tree feels it when the wind blows through it. It probably goes, “Ohhhh, this is wonderful.” And that´s how I feel when I´m singing some songs. It´s wonderful.”

“Plus, I’m crazy for birds and animals and puppies. And I love exotic things. I’ve had llamas, peacocks, a rhea, which is the second largest bird in the world, a macaw, which is the largest parrot from South America, pheasants, racoons, chickens….everything. Now, I’m gonna get a faun. And a flamingo…. I want a chimpanzee – they’re so sweet. Oh, I have such a good time with the animals. I have a wonderful relationship with animals, they really understand me…. I’d like to get into the whole veterinarian thing and learn the behaviour of animals. Dogs may see in black and white. Dogs might even see the wind. And what about the king cobra – what makes him come up when they play that pipe?”

Michael Jackson, Melody Maker music newspaper, 1980

Read more: http://www.blogtalkradio.com/a-place-in-your-heart/2014/08/02/gods-glorious-animals-and-why-michael-loved-them-so-much#ixzz394bLcjp2

Second Annual King of Pop Birthday Party In Las Vegas

Sources: Broadway World | All Things Michael

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For the second consecutive year, Cirque du Soleil and the Estate of Michael Jackson are inviting fans to the King of Pop’s official birthday party Friday, Aug. 29 at an exclusive all-day celebration at the Michael Jackson ONE Theatre at Mandalay Bay Resort and Casino.

This year, the daylong birthday celebration is truly fit for a king culminating with the added birthday performances of Michael Jackson ONE at 7:00p.m. and 9:30p.m. Guests who book their tickets to one of the birthday performances with the special offer code at www.cirquedusoleil.com/mjbday will be invited to attend a private “meet & greet” with representatives of the Estate, members of the show’s creative team and other special guests from the day’s activities as well as receive access to an exclusive room offer from Mandalay Bay which includes a commemorative birthday ticket and gift bag. Guests also will be able to enjoy other special events throughout the day including: a book-signing with Forbes senior editor and “Michael Jackson, Inc.” author Zack O’Malley Greenburg, a screening of the behind-the-scenes documentary from Michael’s latest album XSCAPE, and a Q&A with record producer Rodney Jerkins and “Man In The Music” author Joe Vogel who also contributed the liner notes to the album package.

The album, which contains all new material, took over the top spots on the global charts in May, hitting No. 1 in 52 countries and Top 5in 87 others. It debuted at No. 1 on the Hits Magazine chart and No. 2 on the Billboard chart. The first single from the album, “Love Never Felt So Good,” lit up the charts around the world, giving Jackson his highest Billboard chart bow since 1995 and fourth-highest debut ever at No. 20. It is now the last song played as the audience leaves the Michael Jackson ONE Theatre.

Michael Jackson ONE is a sonic, tonic fusion of acrobatics, dance and visuals that takes the audience on an immersive journey through the music and spirit of Michael Jackson.

Driven by Michael’s powerful, multi-layered music – heard like never before in a riveting, state-of-the-art surround-sound environment – ONE takes the audience through a series of seamless visual and musical tableaux, at the heart of a world that is in turn majestic, playful, magical and heart-warming.

In Michael Jackson ONE, Michael’s artistry and spirit are expressed through the vibrant energy of the cast of 63 dancers and performers, underscored by aerial performance, driving acrobatics, and vivid choreographies that use the urban/hip hop idiom as a springboard for exploration.

ONE is a heartfelt tribute to the work, innovative spirit, and legacy of Michael Jackson – the King of Pop, the genius, the visionary, the One.

Michael Jackson ONE is Cirque du Soleil‘s8thproduction in Las Vegas since Mystère in 1993. The company has close to 4,000 employees, including 1,300 performing artists from close to 50 different countries. Cirque du Soleil who celebrates its 30th anniversary this year has brought wonder and delight to close to 150 million spectators in more than 300 cities in over 40countries on six continents.

For more information about Cirque du Soleil, visit www.cirquedusoleil.com.

Read more at Broadway World

Message From The Estate Of Michael Jackson: Sale Of Neverland Ranch

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You will soon be reading news reports stating that Colony Capital has decided to sell Neverland. As the property manager, they have the right to do this.  The Estate has issued the following statement in response to a media request for comment:

We are saddened at the prospect of the sale of Neverland which, under the agreement negotiated during Michael’s lifetime, Colony has the right to sell. The Estate will maintain Michael’s family home in Encino, including its iconic recording studio there. We continue to build upon Michael’s legacy as an artistic genius and humanitarian through his music and new projects such as the Michael Jackson ONE show in Las Vegas.  We hope and trust that any new owners of Neverland will respect the historical importance and special nature of this wonderful property.  Michael’s memory lives on in the hearts of his fans worldwide.

It is also important to the Estate that Michael’s fans understand that although the Estate has no right to stop or obstruct the sale, The Estate did explore a number of potential options for Neverland with Colony but zoning, financial and land use restrictions limited the alternatives and ultimately Colony made the decision to sell.

MJOnline The Official Online Team of The Michael Jackson Estate™

Michael Jackson’s Neverland Is About To Be Sold

Source: Forbes – By Zack O’Malley Greenburg

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Though Michael Jackson moved out of Neverland years before his untimely passing, the 2,700-acre property remains indelibly associated with the King of Pop to this day. Soon, however, the connection will be only in thought, not deed: Neverland is set to be sold.

According to sources familiar with the matter, billionaire Tom Barrack’s Colony Capital is preparing to put the Los Olivos, Calif. property on the market. The firm became Neverland’s managing partner after Barrack struck a deal with Jackson in late 2007 to take over the $23 million note held by private equity fund Fortress.

“We are frustrated, bitterly disappointed and saddened that it has come to this,” said a representative for Jackson’s estate in an electronic message to FORBES. “Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager.”

Representatives for Colony Capital could not immediately be reached for comment.

As I reported in Michael Jackson, Inc: The Rise, Fall and Rebirth of a Billion-Dollar Empire , the agreement between Jackson and Colony was a complex one. Barrack himself said he only took on the note as a favor to Jackson (in an interview for the book, he recalled his words to the singer: “Don’t have me do this … unless you’re really interested in building a program going forward to create some revenue for yourself.”)

The agreement, which took effect in early 2008, called for Colony to manage Neverland as a sort of joint venture with Jackson. For every dollar the company invested in the property, its equity would increase. This meant that while Jackson—and, later, his estate—retained a stake in the property, it decreased on paper as time went on.

Over the past six years, Colony has continued to fund the upkeep of Neverland. That cost, if it’s anything like it was in Jackson’s day, is likely in the neighborhood of $5 million per year. Add in the $23 million note, and back-of-the-envelope math suggests the firm may have invested more than $50 million in the property to date. It also retains the right to sell the property at will.

Still, many options were explored over the years. Toward the end of his life, Jackson himself is said to have been intrigued by the idea of turning Neverland into a school for the performing arts; after his death, many have suggested that the property be turned into an attraction like Elvis Presley’s Graceland.

But as anyone who’s been to Neverland (this writer included) can tell you, Los Olivos isn’t exactly Memphis. The area is nowhere near an interstate, and its narrow mountain roads aren’t conducive to accommodating hundreds of thousands of visitors a year.

“The Estate explored numerous options, including a purchase,” continued the aforementioned representative’s statement. “But financial, land use and zoning restrictions have made all of the proposed options prohibitive given our duty as Executors to be fiscally responsible in protecting and growing the assets of the Estate for Michael’s children.”

Indeed, Jackson’s estate has pulled in more than three quarters of a billion dollars in a little over five years since his death. But that’s before taxes and expenses, not to mention the specter of a $702 million IRS bill that the estate is currently appealing.

Buying back Colony’s share of Neverland—not to mention footing a multimillion-dollar annual upkeep bill for a property that does not generate income—would seem to be an imprudent financial choice.

And so, Neverland may soon have a new owner on paper. But any buyer will have to understand the property will always be the King of Pop’s realm in the minds of millions.

 

Read more at Forbes / All Things Michael

Santiago’s Museo de la Moda Fashion Museum Celebrates The King of Pop

Source: Fibre2Fashion | Museo de la Moda | All Things Michael

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Five years since his death, the aura surrounding Michael Jackson refuses to cease as the late King of Pop continues to allure people through his iconic stage costumes and personal belonging exhibits.

A similar exhibition featuring some memorable costumes worn by the American singer in few of his stage performances and videos have been put up on display at the Museo de la Moda (Museum of Fashion) in Santiago, Chile.

The major attractions of the exhibit include a round neck T-shirt, featuring an angel and a pink heart with an inscription ‘Il n’y a plus que l’amour. Sauf Amour’ (There is only love. Except for Love), which he wore with a red zippered jacket in the Beat It video from his 1982 album Thriller.

The display also features the unforgettable metal studded leather jacket, donned by MJ for the cover shoot of the Dangerous World Tour program (1992-1993). Designed by the singer’s official stylist duo Dennis Tompkins and Michael Bush, the broad shouldered jacket features a scoop military neck.

Also, a 1974 patchwork detailed denim jacket, sported by Jackson in Ebony magazine’s December 1974 issue, and a 1984 replica doll wearing the legendary musician’s Beat it attire have also become a part of the exhibit.

Read more: http://www.fibre2fashion.com/news/fashion-news/newsdetails.aspx?news_id=165763

Michael Jackson, Whitney Houston, Marvin Gaye And More To Be Inducted Into The 2014 R & B Music Hall Of Fame – August 24

Sources: R & B Museum | All Things Michael

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The Official R&B Music Hall of Fame Museum is recognized as the one and only official institution that honors and memorializes the accomplishments of the many individuals and organizations that have contributed to the Rhythm and Blues genre. Our collection of artifacts and other objects of historical importance will be available for public viewing through permanent and temporary exhibits.

The Museum’s purpose is to collect, preserve, exhibit, and educate about the various aspects of the world of Rhythm and Blues Music. Artifacts and materials that we have collected and are collecting, are not only owned by the museum but are also borrowed and created for the various displays.

On August 17, 2013 at Cleveland State University in Ohio, many Detroiters and Motown alumni were inducted into the R&BHOF freshman class such as The Temptations, The Four Tops, The Dramatics, and Jackie Wilson to name a few.

This year’s induction ceremony will be held August 24, in Canton, OH at the Canton Palace Theater, and will include Michael Jackson, Whitney Houston, B.B. King, The Whispers, The Funk Brothers, The Sweet Inspiration, Marvin Gaye, Chubby Checker, Norm N. Nite, Deon Dantes, The Delfonics and Gene Chandler.

Confirmed attendees (among others) are Duke Fakir (The Four Tops), Kim Weston, Cissy Houston, Martha Reeves, Joe Jackson, and the families of Jackie Wilson, Sam Cooke, and David Ruffin.

CLICK HERE TO BUY TICKETS – $60.00

Tickets will also be available at the door.

Other Induction Events

Pre-Induction Celebrity White Party - August 22 – $25.00

Soul Food Party In the Park – August 23 – Free

FOR INFORMATION CALL 330-454-8172

Read more: http://www.rbhalloffame.com/

Paul McCartney Remembers MJ While Katy Perry Sort of Doesn’t Remember Paul

Source: 997 The Point – By Mike Stanz| All Things Michael

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This is from a couple of weeks ago, but it’s a neat little video clip. Katy Perry and Paul McCartney (who ever thought they would ever share a couch?) were guests on the BBC’s Graham Norton Show.

Katy was trying to salute Paul, but she stumbled a little when she got to “… and the fact that you’re still here today…” Pretty funny the way it worked out.

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And then Paul tells a great story about meeting and working with the King of Pop, Michael Jackson, and some interesting advice Paul gave him. Check it out…

 

Read more at 997 The Point

In Sync Dance of Auburn Proudly Presents “Michael Jackson vs. The Beatles

Source: In Sync Dance of Auburn | Eventbrite | All Things Michael

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Don’t miss In Sync Dance of Auburn’s annual showcase of talent… ‘Michael Jackson vs. The Beatles.’  In their 17th season of bringing exceptional performances to the stage, enjoy 100+ academy students and your favorite Michael Jackson and Beatles music in a fast-paced dance performance with all original choreography. This show is brought to you with love from the academy students and the creative minds of head Mistress Jessie Krick and her academy staff with 150+ collective years of performing and teaching experience. This show is perfect for all ages.

Dates: (June 28) 2PM – 4PM & 7PM – 9PM, (June 29) 2PM – 4PM

Venue: Bear River High11130 MAGNOLIA RD., Grass Valley, CA 95949

Costs: $10 Adults, $7 Senior & Youth ages 13-18, $5 Child ages 6-12, Age 5 and under FREE

Tickets: Eventbrite