Valued at approximately $75 million, Michael Jackson’s shuttered Neverland Ranch could become a therapy camp for molested children.
While two potential buyers hope to turn the 2,700-acre property in Los Olivos, California, into a “Graceland-like attraction,” another businessman’s has bid “in the neighborhood of $40 million” for use that wouldn’t exactly honor Jackson’s legacy, a source told the New York Post.
“His goal is for the place to be used to help children in a serene setting recover from the trauma of sex abuse,” the source said.
“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.”
Colony Capital, a hedge fund headed by real-estate investor Thomas Barrack, seized control of the ranch from the indebted singer in 2008 – just one year before his death. [NYP] – Christopher Cameron