The property formerly known as Neverland Ranch, home to the late Michael Jackson, has been purchased by Pittsburgh Penguins co-owner Ron Burkle.
The Wall Street Journal reported it was sold for 22 million dollars.
Burkle is also the co-founder of Yucaipa Companies, an investment firm.
Neverland Ranch — named after the fictional “Neverland” in the tale of Peter Pan, the boy who could never grow up — was purchased by Jackson in 1987 for 19.5 million dollars.
The 2,700-acre estate once contained 22 structures, including an amusement house and a zoo which housed elephants, a giraffe, orangutans, and Jackson’s chimp Bubbles.
Jackson died in 2009 of what the Los Angeles County Coroner said was “acute propofol intoxication.” His physician, Dr. Conrad Murray, was convicted in 2011 of involuntary manslaughter in connection with Jackson’s death and served less than two years in prison.
In 2014, the property was listed for sale at 100 million dollars.