Possessions will not be auctioned

Pop megastar Michael Jackson has managed to halt an auction of his personal possessions, which contained nearly one and a half thousand items.

Michael Jackson's money problems now seem a distant memory. This time last year the singer was threatened with bankruptcy and was forced to sell his Neverland mansion in California. Now, however, Jackson has announced a fifty night stand at the O2 Arena and is - to coin a phrase - rolling in it.

Announcing a small series of dates earlier this year, the residency quickly expanded as the possibility of a Phoenix-like return seemed to capture the public's imagination. With warnings that this was his last ever British appearance, and the promise of a greatest hits set, millions attempted to buy tickets.

Of course, the shows will also be accompanied by a flood of merchandising and Michael Jackson has been quoted as potentially earning up to $400 million.

With all this money floating around Jackson has been able to halt a sale of his possessions. The bizarre auction contained well over a thousand items, from limousines to the gates of his Neverland ranch.

Jackson's production company sued Julien's Auction House, which had been managing the event. A settlement was reached recently, reports the Wall Street Journal, and the sale was postponed.

Darren Julien, head of Julien's Auction House, was quoted as being "very happy with the outcome".

Michael Jackson's residency at the O2 Arena is set to begin on July 8th.

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