London, July 11 - French fashion tycoon Christian Audigier is set to buy late pop legend Michael Jackson's Neverland ranch.

The US based designer, known for his Von Dutch and Ed Hardy collections, plans to create a Jacko-themed complex similar to Elvis Presley's Graceland and allow online tours, reported mirror.co.uk.

'I have decided to buy that house,' said Audigier.

Colony Capital bought the California ranch in 2008 for 20 million pounds ($32 million) and is keen to sell. Neverland is now worth an estimated 60 million pounds.

The 50-year-old singer died June 25 at his Los Angeles home after a suspected cardiac arrest.