Michael Jackson’s former Neverland Ranch located in California will soon be put on the market.
According to Forbes, the 2,700 acre estate, located two hours north of Hollywood, will be sold by real estate investment firm Colony Capital. The firm owns equity in the multi-million dollar ranch following a 2008 agreement with Jackson.
“We are frustrated, bitterly disappointed and saddened that it has come to his,” a rep for Jackson’s estate told Forbes. “Sadly, Michael lost control of Neverland during his life as a result of advice from a former manager.”
The upkeep on the massive estate costs millions of dollars each year.
The property featured and amusement park and petting zoo and was purchased by the King of Pop in the late 80s.
Jackson passed away at the age of 50 in 2009.
No word on what price the home will be listed at.
*Forbes contributed to this report.