Burkle is also a co-founder of Yucaipa Companies, an investment firm.
Neverland Ranch, named after the fictional “Neverland” from the story of Peter Pan, the boy who could never grow up, was bought by Jackson in 1987 for $ 19.5 million.
The 2,700-acre estate formerly contained 22 structures, including an amusement house and a zoo that housed elephants, a giraffe, orangutans and Jackson’s chimpanzee bubbles.
Jackson died in 2009 so the Los Angeles County coroner said it was “an acute propofol poisoning.” His doctor, Dr. Conrad Murray, was convicted in 2011 of manslaughter in connection with Jackson’s death and served less than two years in prison.
The price keeps going down
At the time, Agent Kyle Forsyth shared the list with Suzanne Perkins.
He said the property, which contains the nearly 12,000-square-foot main house where Jackson lived for 15 years, was withdrawn from the market due to wildfires and mudslides in nearby Santa Barbara, California.
“Everyone retired for about a year overall,” Forsyth said in 2019.
CNN has contacted Perkins and Forsyth, but has yet to respond.
The property, now known as Sycamore Valley Ranch, was jointly owned by Jackson’s property and a fund managed by the Colony Capital real estate investment fund.