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article imageBidder to turn Neverland Ranch into haven for sex abuse victims

By KJ Mullins     Feb 1, 2015 in World
Los Olivos - In August 2014 it was revealed that Michael Jackson's estate, Neverland Ranch would be going for sale in the near future by Colony Capital. One of the current bids for the property is proposing to build a camp for sexually abused children.
Many have wanted to own the estate but the costs have turned most, including the government of California away.
Page Six is reporting that one proposal on the table for Neverland Ranch is for a therapy camp that would help molested children recover from their abuse. At least two other bids would see Neverland Ranch turn into a tourist attraction like Elvis Presley's estate Graceland.
The bid to turn the ranch into a haven for molested children was put forth by an undisclosed businessman offering $40 million.
According to a source for Page Six:
“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.”
During his lifetime Michael Jackson spent millions trying to hide away molestation charges against him. Many of his alleged victims spent time on Neverland Ranch according to court documentation.
Jackson and Colony Capital, a hedge fund, had reached a management agreement on the property in 2008. Per that agreement Colony Capital would have an increased equity of the property for any money they invested while Jackson's equity would decrease. It is estimated that Colony has invested $50 million.
At one time Neverland Ranch had 22 buildings including guest houses and apartments for staff, stables, a movie theater and theme park. It was valued at $30 million at that time. In 2007 debt forced Jackson to auction off items on the estate to pay the bills. Today most of the buildings, furnishings and theme attractions have gone.
Jackson purchased the 2,700-acre Los Olivos, California property in 1988.
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