Michael Jackson has denied US reports he is preparing to sell his Neverland ranch at the reduced rate of $20 million (GBP10.3 million) - $30 million (GBP15.4 million) 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 isn’t even on the market. She says, “This is not true.”

Source: Contact Music