According to court documents, the Michael Jackson Estate is asking that Michael's eldest child, Prince (24) , be brought in to work on 'designated projects'. Prince, who graduated from LMU with a bachelor’s degree in business administration, is to be brought on as a special consultant and it is not clear what sort of projects he will be involved in yet.
"The managers believe it would be in the best interest of the Estate and the MJJ Business for Michael Jackson’s son, Prince, to be employed by the Estate and/or one of its entities as a consultant on certain designated projects." The document filed by the estate reads, "Therefore, Petitioners seek this Court’s order authorizing them to employ Prince as a consultant on such terms and for such purposes as shall be agreed upon by the Managers and Prince.”
The executors, John Branca and John McClain, also point out in the filling how difficult it has been to manage the business and get it back to a profitable venture, as well as how more challenging it is to manage a deceased celebrity:
"Among other things, the Managers renegotiated and restructured the more than $400 million debt that encumbered Michael’s most significant assets, thus enabling the Managers to completely satisfy the debt without the selling any of Michael’s assets" adding that "A living artist promotes his/her brand by creating new music, touring, making other personal appearances, and engaging in social media activations and all other ancillary activities required to build one’s career. The manager of a deceased artist cannot rely on the artist to personally promote the artist’s brand, rather the manager must do it"
This is certainly some very exciting news!
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