According to Jacko's lawyer, the King of Pop worked out a "confidential" deal with Fortress Investment Group, which allows him to retain ownership of the combination house/amusement park in Los Olivos, Calif.
"Neverland and MJ are fine," McMillan said in a statement.
The 49-year-old mutated freak owed $24.5 million in taxes on the 2,500-acre spread northwest of Santa Barbara, and the auction had been set for next Wednesday, March 19.
Michael was angry when he first heard about the auction, but then he realized he had to take action.