This is a sad day for Michael Jackson fans.

Pagesix.com is reporting that Jackson's famous residence, The Neverland Ranch, is to be sold to the highest bidder despite the lack of enthusiasm from Jackson's Estate.

Michael Jackson bought Neverland back in 1988.  The 13,000 square foot home is situated on 2700 acres.  To put that into perspective, 2700 acres is bigger than TWICE the size of the Magic Kingdom, Epcot Center, Hollywood Studios, and Animal Kingdom...combined.

"We are frustrated and saddened that it has come to this. Sadly, Michael lost control over Neverland during his life as a result of advice from a former manager", says one of the Estate's reps.

There have been many ideas kicked around for the destiny of the estate, including buying it back or turning it into a Graceland attraction but due to financial, land use, and zoning restrictions, it has become impossible.