Washington, Oct 5 : French designer Christian Audigier has rubbished reports that he has bought late King of Pop Michael Jackson's Neverland Ranch home.

The owner of popular Ed Hardy clothing line is said to have paid 90 million dollars for his friend''s former home, but he insists he would never have bought a place that only held bad memories for the Thriller hitmaker.

"He didn''t like Neverland. He didn''t want to go back there... so it''s not Neverland at all," Contactmusic quoted Audigier as having told HollyScoop. com.

However, Audigier has admitted that there were plans to turn the Holmby Hills estate Jackson was renting when he died into a museum.

"I have purchased the home Michael passed away in... I want to create a memorabilia and museum," he said.

"So far, I''m buying a big collection of memorabilia and personal objects that he has," he added. (ANI)