The sprawling estate will pass from one eccentric pop star to another, according to this latest rumor.
UNCONFIRMED: That Lady Gaga plans to purchase and renovate Michael Jackson’s Neverland Ranch estate in Southern California
Pop singer Lady Gaga recently purchased 55 items once belonging to Michael Jackson at an auction in Beverly Hills, Calif. But is the “Born This Way” singer actually eyeing a much bigger Jacko prize? Rumors published by the Sun, NME and the Huffington Post, say Gaga plans to buy Jackson’s 3,000-acre Neverland Ranch in Santa Barbara County, Calif. and return it to its former glory.
For Jackson’s kids
Gaga has reportedly become good friends with Jackson’s sister Latoya, and the reason she wants to purchase Neverland is supposedly so it can be preserved for Jackson’s three children. “His kids are all desperate to hold on to their childhood home so they can decide what they want to do with it properly when they’ve grown up,” the Sun quotes an anonymous source as saying.
Ranch has a long, troubled history
Jackson bought the sprawling ranch in 1988 and named it after Neverland from the story of Peter Pan -- a magical land where boys never grow up. He built a railroad track, a petting zoo and carnival rides. But later, as he became embroiled in financial troubles, the ranch fell into disrepair and was eventually sold to investment group Sycamore Valley Ranch Company, though Jackson's three children and mother Katherine still hold a share of it. If Gaga were to purchase the ranch she would likely have to shell out tens of millions of dollars to both purchase and renovate the dilapidated estate.
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