Michael Jackson’s Impending Barter Deal With Colony Capital
Once the biggest popstar name in entertainment, Michael Jackson, is
now in talks with the private-equity group Colony Capital to put
together a comeback-of-sorts. If it is successful it will enable him
to clean up certain debts and get some breathing room from the
onerous debt (reportedly $400 million) he has piled up over the
years.
Label it what you will, Colony Capital is sitting in the catbird
seat holding a $23 million Note on Jackson’s Neverland Ranch, the
home of his private amusement park in California. The firm also owns
the Las Vegas Hilton, and is a major shareholder in Station Casinos.
Discussions on the exact performing efforts by Jackson are the real
issue as he simply has not felt up to the rigors of performing after
his lengthy legal ordeal in 2005.
Options in which Jackson would barter his time and talents in
exchange for relief on his secured debt would include:
1)
Performing at a Colony hotel-casino for up to 180 nights a year, or
2)
Creating a show like “Love” (Cirque de Soleil’s show built around
the Beatles music) using Jackson’s tunes and have him appear at 20
to 30 of the performances.
Lately the singer has been living in Nevada 60-miles west of Las
Vegas, where he has been writing new songs in a home studio and
having his three children home schooled.
