MICHAEL JACKSON has denied US reports he is preparing to sell his Neverland ranch at the reduced rate of $20 million – $30 million lower than his original asking price.

Industry insiders had claimed the Thriller star was ready to sign away the 2,700-acre property in Santa Barbara, California – which includes a zoo, cinema and amusement park – to American debt guru Bill Huff, according to PageSix.

But Jackson’s representative Raymone Bain has dismissed reports stating that Neverland isn’t even on the market. She says, “This is not true.”

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