Despite media reports stating that “Thriller” star Michael Jackson was set to lose Neverland, his Californian ranch, according to spokesperson Raymone K. Bain the property is not going anywhere.

“Mr. Jackson is in the final stages of refinance and will not lose Neverland Valley Ranch,” Bain told media outlet Associated Press on the weekend.

It’ll be the second time the so-called King Of Pop has sought help from financiers over the property, the “Bad” singer currently residing in a rental property in Washington D.C., where he’s working on his highly-anticipated comeback LP.

Bain says he won’t be losing the iconic property, despite finance company Fortress Trust stating just two weeks ago that Jackson had 90 days to pay a AUS$25 million loan on Neverland, before they would auction it off to the highest bidder.