Michael Jackson's Neverland Ranch for sale with drastic price cut

By FeaturesFOXBusiness

TODAY -- Pictured: Neverland Ranch-- NBC News' Matt Lauer gets an exclusive behind-the-scenes of Neverland Ranch, where Michael Jackson lived for 15 years, getting a rare look inside the private world of the King of Pop (Photo by Trae Patton/NBC/NBCU

The Neverland ranch in California that once belonged to late pop icon Michael Jackson has returned to the market for $31 million, a fraction of the $100 million it once sold for in 2015.

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The Santa Barbara County property -- now called Sycamore Valley Ranch -- is being listed by Compass. According to The Wall Street Journal, the property was pulled from the market in 2017, a few months after the price was slashed to $67 million.

TODAY -- Pictured: Inside Neverland Ranch -- NBC News' Matt Lauer gets an exclusive behind-the-scenes of Neverland Ranch, where Michael Jackson lived for 15 years, getting a rare look inside the private world of the King of Pop (Photo by Trae Patton/

That’s largely because of the hefty price tag, in addition to negative effects from a drought in the state at the time of the listing. Now, the listing agents are attributing the dramatic price decrease to years of drought and other natural disasters.

TODAY -- Pictured: Neverland Ranch-- NBC News' Matt Lauer gets an exclusive behind-the-scenes of Neverland Ranch, where Michael Jackson lived for 15 years, getting a rare look inside the private world of the King of Pop (Photo by Trae Patton/NBC/NBCU

In the listing, Neverland is described as the “ultimate ranch retreat,” with six-bedrooms, an expansive covered outdoor barbeque area, pool, tennis court, three separate guest homes, a 5,500-square-foot movie theater with stage, several barns, animal shelter facilities, corrals and a maintenance shop.

391113 03: An aerial view of a section of singer Michael Jackson''s Neverland theme park June 25, 2001 in Santa Ynez, CA. (Photo by Jason Kirk/Getty Images)

The 2,700-acre property, which still maintains some of its iconic features, like a clock that spells out “Neverland”, is sure to draw attention this week. On Sunday, HBO is slated to premiere its two-part, four-hour movie “Leaving Neverland,” a documentary about two men who say they were sexually abused by Jackson as children.

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The Jackson family has denied the accusations from James Safechuck and Wade Robson, calling them “opportunists” and “admitted liars.” Last week, Jackson’s estate filed a lawsuit, alleging a breach of contract against HBO.

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Howard Weitzman, an attorney for the Jackson estate, told the Journal that the timing of the listing is unrelated to the film.

“It’s time for new stewardship,” he said.

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