Jacko to wipe out Neverland loan with Elvis-style comeback in Vegas

London, May 25 : Michael Jackson can get rid of the crippling loan on his Neverland Ranch home by performing an Elvis Presley-style comeback in Las Vegas.

Jackson prevented a foreclosure sale on his sprawling Santa Barbara ranch earlier this month when New York-based private equity group Colony Capital LLC agreed to take over his debt on the property.

The investment company that bought the singer's massive 12.5 million pounds loan on his crumbling, 2,500-acre estate also owns the Hilton Hotel in Sin City, where Elvis re-launched his stage career in 1969.

Now bosses of the company want Jackson to revive his own live act on the 40th anniversary of The King's return next year.

"It is a wonderful coincidence that the company owns the Hilton, whose fortunes would certainly be boosted dramatically if Michael Jackson becomes the 'house star' for a period," The Daily Star quoted a source at Colony as saying.

"Everyone would be a winner...and it would be a very dignified way for Mr Jackson to not only re-establish his career but also reclaim his property," the source added.

A source close to the singer said: "He thinks it's a fantastic idea."

ANI