While several business deals have been reached — for things like commemorative coins, a line of school supplies and a $150 coffee table book — the matter of untangling Mr. Jackson’s vast estate, assets and debt, goes on, as does wrangling with family members. Cash has been collected from former advisers who had held money for Mr. Jackson — several million dollars from one — and the executors have tracked down a collection of Mr. Jackson’s personal memorabilia and other items that were almost auctioned off last April to pay debts.
The overall value of Mr. Jackson’s business, were it to be sold in the future like Mr. Presley’s was, would most likely be several hundred million dollars, said Mark Roesler, chairman of CMG Worldwide, a licensing firm that has worked with the estates of Mr. Presley, Marilyn Monroe and James Dean. Neverland Ranch itself could become a future moneymaker, just like Elvis Presley’s Graceland. Some family members hope that Mr. Jackson will be buried there, but that decision has not been made. Neverland is owned in partnership with Colony Capital, a Los Angeles real estate company that stepped in when Mr. Jackson was on the brink of foreclosure.
Another idea is to establish a permanent Michael Jackson attraction in Las Vegas, which would house the late singer’s memorabilia. This option may be preferable to Neverland, because Las Vegas is more easily accessible to tourists. In life, Mr. Jackson faced a precarious financial future, as he piled on debts to finance his tastes in art, to travel on private jets and to keep up Neverland. In death, his estate may enjoy the financial security he never had.
