Why didn’t the Estate keep Neverland?

Neverland was managed and controlled by Colony Capital, not by the Estate. This is based on a contract Michael signed in 2008. The Estate did explore with Colony Capital a number of potential options for Neverland, including donating it to the State of California to be preserved for historical purposes and special events, but none proved feasible and ultimately Colony decided to sell the property. Neverland has always been and will continue to be a very expensive property to maintain. Thus, without any viable option to generate income from the property, Colony’s decision to find a buyer was understandable. Before Colony accepted the offer from Ron Burkle to purchase the property, Colony informed the Estate who, in turn, informed Michael’s children. After discussions among the Estate and Michael’s children and their advisors, the decision was made that the Estate would not purchase Neverland and would allow the sale to Ron Burkle to proceed. Given Ron’s friendship with Michael and his kids, the Estate believes Mr. Burkle will respect the historical importance and special nature of this wonderful property.
It is important to keep in mind that as magical and beautiful a place as Neverland was during the years Michael lived there, it was not his home for the last few years of his life and he publicly stated that it would NEVER be his home again. Michael’s music, vision and messages remain ever present with us – the artist, the creative genius and the caring human being with an unparalleled passion for the planet and the people who inhabit it. His love is immortal and will inspire generations to come.