Neverland Ranch offered to billionaire

LOS ANGELES — Michael Jackson’s Neverland Ranch in California has identified a new proprietor in billionaire businessman Ron Burkle.

Burkle views the 2,700-acre house in Los Olivos, in close proximity to Santa Barbara, as a land banking option, his spokesman reported Thursday in an e mail.

The Wall Road Journal stories the property was marketed for $22 million to Burkle, an associate of the late pop star and co-founder of the expense organization Yucaipa Businesses.

The asking price of the assets was $100 million in 2016 then dropped to $67 million a year afterwards.

In addition to a 12,500 sq.-foot most important residence and a 3,700 square-foot pool residence, the home offers a independent constructing with a 50-seat film theater and a dance studio.

Other functions on the ranch are a “Disney-style” educate station, a fireplace residence and barn.

Burkle’s spokesman mentioned the billionaire had been eyeing Zaca Lake — which adjoins the residence — for a new Soho House, a customers-only club with places in Los Angeles, Miami, New York and Toronto. Burkle in the end determined the location was also distant and pricey for a club.

Burkle is the controlling shareholder of Soho Home.

Following Burkle observed the house from the air, he put in an present to acquire.