Steff Posted February 9, 2006 Share Posted February 9, 2006 http://www.foxnews.com/story/0,2933,184325,00.html Jacko Kicked Out, Cut Off by Arab Prince Thursday, February 09, 2006 By Roger Friedman Today will be the seventh week in a row that employees at Michael Jackson's Neverland Ranch have not received paychecks. And now I have really bad news for them: Jackson has been cut off and kicked out by Prince Abdullah, son of the King of Bahrain. He is no longer, I repeat, not doing it anymore — not funding Jackson, his kids and nanny in an extended stay in Bahrain. The first clue that this was the case was Jackson's traveling last week from Bahrain to Germany, and then on to Italy — on commercial flights in business class. There was no more private plane. But now I'm told that the prince has been informed by his family, the al-Khalifa clan, that Jackson is no longer welcome to unlimited generosity from the Bahraini royals. In fact, Jackson is aware of this. Sources tell me that he had found a couple of wealthy families in Dubai who helped him out, but their largesse was limited. "Jackson is essentially bouncing around the United Arab Emirates looking for handouts," my sources say. Compounding this now dire situation is a sharp, harsh reality: Jackson's $270 million worth of loans owned by Fortress Investments are due on Feb. 20. Fortress had given Jackson a 60-day extension, which began on Dec. 20, to resolve his problems with it, but nothing's happened. Now Fortress will either foreclose on Feb. 20 or make a deal with Sony Music. Sony, I am told, doesn't want Fortress to foreclose and send Jackson's loans to a public auction via bankruptcy court. Sony has been negotiating for weeks with Fortress, sources say, to avoid that development. But either way, Jackson's inability to deal with reality and his financial problems constitutes a veritable house of cards. And it's all about to come crashing down. Quote Link to comment Share on other sites More sharing options...
The Critic Posted February 9, 2006 Share Posted February 9, 2006 How old is Prince Abdullah? Maybe Mike tried to get him to sleep over....or maybe they got offended when he called it "Jesus Juice".... Quote Link to comment Share on other sites More sharing options...
Kid Gleason Posted February 9, 2006 Share Posted February 9, 2006 QUOTE(The Critic @ Feb 9, 2006 -> 11:21 AM) How old is Prince Abdullah? Maybe Mike tried to get him to sleep over....or maybe they got offended when he called it "Jesus Juice".... As long as he doesn't draw any pictures of the juice...I think all would have been O.K. Quote Link to comment Share on other sites More sharing options...
tonyho7476 Posted February 9, 2006 Share Posted February 9, 2006 it would be great if mj had to move back to Gary Indiana...hate this guy Quote Link to comment Share on other sites More sharing options...
Cknolls Posted February 9, 2006 Share Posted February 9, 2006 Somebody hand me a hanky. Quote Link to comment Share on other sites More sharing options...
Kyyle23 Posted February 9, 2006 Share Posted February 9, 2006 Has he leveraged all of his assets for this 270 million dollar loan? Quote Link to comment Share on other sites More sharing options...
southsider2k5 Posted February 9, 2006 Share Posted February 9, 2006 QUOTE(kyyle23 @ Feb 9, 2006 -> 01:38 PM) Has he leveraged all of his assets for this 270 million dollar loan? I'm sure the only thing he has worth that much is the Beatles catelog he owns. I would rather see it owned by a greedy ass record company than to see that bastard Jackson own it anymore. Quote Link to comment Share on other sites More sharing options...
Steff Posted February 9, 2006 Author Share Posted February 9, 2006 QUOTE(southsider2k5 @ Feb 9, 2006 -> 12:39 PM) I'm sure the only thing he has worth that much is the Beatles catelog he owns. I would rather see it owned by a greedy ass record company than to see that bastard Jackson own it anymore. He doesn't own it.. him and Sony own it. And he used his % years ago to secure another loan. If he owned it, there would be a lot more of it being used commercially. Quote Link to comment Share on other sites More sharing options...
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