Michael Jackson fires business managers

In a statement issued today by Michael Jackson's spokesperson, Raymone Bain, we learned that the singer has fired his business managers, has hired a New York firm to oversee his financial affairs and is moving to Europe. Raymone K. Bain has been named general manager of the new Michael Jackson Co., which will replace Jackson's MJJ Productions. Jackson has severed ties with his Bahrain lawyers and his longtime accountants and business managers, Bernstein, Fox, Whitman, Goldman & Sloan. Bain said he has hired L. Londell McMillan and The McMillan firm, "known for business restructurings and turnarounds." The change in management, which Bain called "the first of a sweeping restructuring of his personal and business affairs," is an apparent attempt by Jackson to salvage his finances. The singer will maintain a house in Bahrain, Bain told The Associated Press in a phone interview. He decided to move to Europe for access to music industry figures, she said. "He is very serious about his music," she said. "When you are a creative person and the creative juices are flowing again and you're about to embark on new projects, you want to make sure your organization is running smoothly." Jackson was in Ireland on Tuesday "on personal business," Bain said in her statement. Jackson's chaotic financial dealings will be put in the spotlight in a Santa Monica courtroom this week in a lawsuit over whether he owes $3.8 million to a former business associate. Jackson claims Schaffel defrauded him and hid facts of his shady past. Jackson is planning public appearances and performances again, Bain said. "He is reviewing numerous offers to tour musically, which he plans to embark upon within the next several months," the statement said. She also said he expects to release a new album next year. Source: AP/MJJF/eMJey