By NEKESA MUMBI MOODY, AP Music Writer
LOS ANGELES - Michael Jackson has refinanced Neverland ranch in time to save his famed California spread from a public auction that was scheduled for later this month.
Jackson attorney L. Londell McMillan told The Associated Press on Thursday that the pop star has worked out a "confidential" agreement with Fortress Investment Group, LLC. The deal allows him to retain ownership of the famed property in Los Olivos, Calif.
"Neverland and MJ are fine," McMillan said.
An auction date had been set for March 19 because of $24.5 million the singer owed on the 2,500-acre spread northwest of Santa Barbara.