Neverland Ranch related issues have been on the fans radar for several years. First there was the foreclosure news, followed by MJ – Colony Capital refinancing deal. After Michael’s death, fans wondered what would happen to Neverland. Last year we heard that Colony Capital decided to sell Neverland. This brought a lot more questions. Based on the available information, we believed there was a joint venture between MJ and Colony Capital. Fans questioned how Colony Capital can decide to sell Neverland and how could Estate have no right to stop the sale.
Until today we couldn’t answer such questions. However recently Tohme’s Finder’s Fee Claim (10% from Neverland refinancing, 10% from any future transaction about Neverland) has been put on calendar and this resulted in Tohme filing some documents which included letters and agreements between MJ and Colony Capital. For the first time we get a look inside the Neverland deal between Colony Capital and MJ.
First we confirm that there was a joint venture between MJ and Colony Capital. However the documents also state that the goal of the joint venture between MJ and Colony Capital was “to own, operate, reposition and sell Neverland”.