Looks like Michael Jackson’s Neverland Ranch may soon be turning its life around.
The Santa Barbara, Calif., property, where the singing legend was accused of molestation, is rumored to be have been made over to serve as a rehab for children who are victims of sexual abuse.
Several bidders are said to have expressed interest in the 2,700-acre estate with different visions of the property’s future. While two of the prospective owners are hoping to turn the property into a Graceland-like shrine to the Jackson 5 singer — a source says a local business man, who wants to help young victims, has offered about $40 million for use of the property.
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“His goal is for the place to be used to help children in a serene setting recover from the trauma of sex abuse,” a source close to the business deal says.
“The plan is to have children come there for treatment, and they will also hire trained therapists who would help the victims through the use of equine-assisted therapy, which works to improve the kids’ self-esteem, and it helps them to become more outgoing.”
Photo courtesy of Getty Images.
Hedge fund, Colony Capita,l has had control of the ranch since it was seized from MJ a year prior to his 2009 death. At the time, he was in serious debt and could no longer carry the estate.
While details of the sale are undetermined, the Jackson family have been welcome to stay on the grounds. It was even utilized in a rehab-like manner by MJ's 16-year-old daughter, Paris, who frequently paid visits to her former home while recovering from a suicide attempt.
Though the competing investors remain optimistic about turning the ranch — which once boasted an amusement park, an arcade, a movie theater and several animal attractions — into an attraction dedicated to Michael, it’s unlikely it’ll happen.
“We know of two bids one with multiple partners, who want to make it a shrine to Michael Jackson, a Graceland-type thing,” another source tells 'Page Six.'
“However, it’s unlikely that Michael’s estate would allow that to happen because they’d have to grant permission to use Michael’s likeness.”