Taking Back Neverland

Six Flags, owner of a chain of amusement parks, filed for bankruptcy this week because of massive debt: a further sign that nobody is having fun in this recession. But out in Santa Barbara, one legendary theme park is hoping to overcome the economic rollercoaster.

Since January, workers at Michael Jackson’s “Neverland Ranch” have been sprucing up landscaping and repairing infrastructure. Real estate investment firm Colony Capital LLC is behind the project. They hope to sell the 2,600-acre estate, complete with two train lines, a movie house and go-kart track for over $70 million.

The King of Pop first purchased the property in 1987 and promised a place where children could stay forever young. The 50-year-old singer is playing 50 shows in London starting next month.

(Photo by TunnelBug via Flickr/Creative Commons)