Troubled pop star Michael Jackson is reportedly frantically selling off his menagerie of tigers, elephants and orangutans in a bid to pay off his massive debts.

The Beat It singer, who is speculated to be $250 million in debt, has had to shut down the house on his Neverland Ranch, and is desperately trying to raise cash.

An insider tells British newspaper The Mirror, "Michael's fortune is nothing like it used to be.

"He's desperate for cash and is offering the animals for a fraction of what they're really worth. He needs money fast."

Earlier this month, Jackson was under fire from Neverland employees who demanded $306,000 after complaining they hadn't received a pay packet since December 19.

People For The Ethical Treatment Of Animals (PETA) activists subsequently wrote to the singer, begging him to relocate the exotic animals on the California ranch after learning it had been closed down.

(This news article provided by World Entertainment News Network)