*Michael Jackson‘s infamous Neverland Ranch will reportedly be resurrected in the form of a new museum dedicated to the King of Pop.
But Jackson’s estate is looking for a change in venue that will pay homage to the treasured home, The Blast reports.
According to documents filed by Triumph International, the company that handles intellectual property for the MJ estate, “Neverland Ranch” was registered on October 30 for a slew of entertainment purposes, including “operating museum and providing guided tours of the museum,” and “non-downloadable musical performances, musical videos, film clips, photographs and other multimedia materials featuring music and/or visual representations of Michael Jackson.”Sources close to the manager of MJ’s estate tell The Blast the idea for a museum has been discussed for quite some time, and the first step in the process is securing a name.
Since Neverland Ranch is currently co-owned by MJ’s estate and a private equity firm, it’s not being considered as a location for the museum. But the people working on the project plan to incorporate items from the original home into the design, like the front gates to the ranch.
“Jackson bought the estate in Santa Barbara County, California in 1987. He named it after the fictional world in Peter Pan and filled it with amusement park rides, a petting zoo, and numerous attractions to entertain visiting children.”
As reported by Rolling Stone, “after Jackson’s death, the property fell into disrepair. Colony Capital redeveloped the home but rid it of the amusement park rides, exotic animals, and the Jackson-owned Neverland Valley Fire Department.”
A 2014 Forbes report suggested that “Colony put more than $50 million into the estate” before the property went back on the real estate market last year, with an asking price of $67 million.