Michael Jackson was $500 million in debt when he died, according to court filing

LOS ANGELES — Michael Jackson was more than $500 million in debt in 2009 when he died ahead of a planned concert tour, according to new court documents. The deep financial hole the “King of Pop” found himself in was detailed in a petition filed Friday by the executors of his estate in Los Angeles County Superior Court.

He died close to the eve of the tour, which left his estate financially liable for $40 million to the tour promoter, AEG, the filing said. The filing requests that funds from Jackson's estate be used to reimburse the executors’ attorneys for legal services and other expenses in 2018. Jackson was also facing pending lawsuits in several states and countries when he died, the petition said. More than 65 creditors’ claims had been filed, which prompted more lawsuits, the filing said.

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