Jackson's Neverland ranch 'not for sale'

Michael Jackson has denied US reports he is preparing to sell his Neverland ranch at the reduced rate of $20m (€14.8m) - $30m (€22.19m) lower than his original asking price.

Industry insiders had claimed the Thriller star was ready to sign away the 2,700-acre property in Santa Barbara, California - which includes a zoo, cinema and amusement park - to American debt guru Bill Huff, according to PageSix.

But Jackson's representative Raymone Bain has dismissed reports stating that Neverland is not even on the market.

She said: "This is not true."