Michael Jackson's Neverland ranch is to be turned into a public theme park, reports reveal.

The fantasy Californian mansion nearly destroyed Jackson's multi-million dollar fortune, but reports in the Daily Express suggest that the 2,800-acre ranch could be open to the public as early as next year.

Opened by the singer in 1988, the estate has, at various times, included a Ferris wheel, a merry-go-round, a zipper, a spider, a sea dragon, a wave swinger, a super slide, a dragon wagon, a kiddie rollercoaster and a bumper-car track. It is rumoured to be worth around £80m.

Neverland was bought in 2008 by Colony Capital LLC, after Jackson's huge personal debts meant he could no longer afford the site.

Sources at Colony Capital had said that Neverland would be sold to a private buyer who would keep Michael Jackson’s name alive. However, one insider told The Express that: “It may not be sold at all" and that Colony Capital "might simply seek backers or partners to reopen it as a tourist attraction bearing Michael’s name".

One thing is for certain, if the Neverland ranch is to be opened to the public, it will become one of the must-see attractions for Jackson fans everywhere.