Neverland will not be sold at an auction on March 19 as the pop star has obtained the necessary $24.5 million to keep the property.
Michael Jackson’s lawyer, L. Londell McMillan, said, "They’ve sorted out a confidential agreement. Neverland and Michael Jackson are fine."
Rumour has it that Fortress Investments has loaned the money to Jackson, who hasn’t lived at the Santa Barbara residence since June of 2005 and is heavily in debt.
The eccentric star purchased Neverland in 1987 with the intention of creating a, "paradise for children."