(CNN) The property formerly known as Neverland Ranch, home to the late Michael Jackson, has been purchased by Pittsburgh Penguins co-owner Ron Burkle, Burkle's spokesman confirmed to CNN Saturday. Burkle is also the co-founder of Yucaipa Companies, an investment firm. Neverland Ranch -- named after the fictional "Neverland" in the tale of Peter Pan, the boy who could never grow up -- was purchased by Jackson in 1987 for $19.5 million. The 2,700-acre estate once contained 22 structures, including an amusement house and a zoo which housed elephants, a giraffe, orangutans, and Jackson's chimp Bubbles.

Source: CNN December 27, 2020 06:56 UTC