You Are Not a-Loan

The Luxor, MGM Grand, Caesars Palace and now Neverland? Colony Capital, who are the current owners of Michael Jackson’s Neverland Ranch, are said to be working out a deal to transport the main house and several other structures to a piece of land right off of the Las Vegas Strip.

The Los-Angeles-based private equity firm Colony Capital acquired the loan on Neverland from Fortress Investment Group LLC, who financed Jackson’s 2,900-acre ranch. Jackson had been struggling with debt in recent years and had difficulty with the terms of the $23.5 million loan.

Besides the proposed museum and theatre, Colony executives are also hoping to get family approval to construct a burial plot for Jackson where fans could visit and pay their respect to the King of Pop.