It is a famous site which has finally found a taker, but for a much lower price than expected.
Neverland, singer Michael Jackson's vast ranch, was acquired by American billionaire Ron Burkle, at a price of around $ 22 million, or € 19 million.
Ron Burkle, a businessman based in the US state of Montana, has investments ranging from supermarkets to the music industry.
He acquired the California-located property for his "land banking opportunity," according to a spokesperson.
At another time, Burkle was also business advisor to Michael Jackson, who died in 2009, helping him to settle large debts accumulated as a result of his lifestyle in the years before his death.
An initial estimate five times higher
Reported by the Wall Street Journal, the price of $ 22 million was confirmed as "about right" by a source familiar with the matter.
This amount represents a dramatic drop from the valuation of $ 100 million made in 2015, or around € 90 million during the time.
Last year the price had already fallen to $ 31 million (around 26 million euros), but the property had not found a buyer.
According to the press, Michael Jackson would have acquired it for 19.5 million dollars (approximately 16.5 million euros) in the 1980s. Very indebted, the star had sold this property to Thomas Barrack Jr.'s Colony Capital investment for 22.5 million dollars (19.5 million euros).
Pictures of naked children found on site
Located on 1,100 hectares of land, 65 km from Santa Barbara, the ranch features a main house with six bedrooms, three guest houses, a lake with a waterfall, tennis courts, several barns and shelters for animals.
He was raided by investigators in 2003 when the star was accused of abusing children he took into his home.
Police found a large collection of pornographic images and photos of naked children.
Jackson was acquitted in 2005.
A recent HBO documentary, "Leaving Neverland," recounts the testimonies of two men who claim to have been sexually abused by Michael Jackson when they were children.
Michael Jackson's heirs, who deny the allegations, have sued HBO for "posthumous murder" and are demanding more than $ 100 million (86 million euros) in damages.