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Trump Misses Out on McMahon's Money Pit

By Natalie Finn
Sat 23/08/08
Donald Trump, Ed McMahon

The Donald couldn't corner the market on this one.

Ed McMahon has finally unloaded his Beverly Hills home for an undisclosed amount—but, his rep confirms to E! News, the buyer was not Donald Trump, who had expressed interest in taking the multimillion-dollar estate off of McMahon's financially strapped hands.

Publicist Howard Bragman wouldn't disclose either the ultimate selling price or the name of the buyer, who wishes to remain anonymous, he said. The six-bedroom, five-bathroom house in the same development as Britney Spears' abode had been on the market for about two years, most recently listed at $4.6 million, although at one point McMahon was asking for $7.7 million.

"It's a confidential deal and the buyer wants anonymity but I can tell you it is not Mr. Trump—and it's not John McCain," Bragman joked to Reuters.

But regardless of who and how much, this means that McMahon won't lose his mansion to foreclosure after defaulting on his $4.8 million mortgage.

The former Tonight Show sidekick and his third wife, Pamela, will be moving out, however, after the sale is complete. Trump had talked about leasing the house back to McMahon after buying it from the lender.

This deal, however, might give McMahon more financial wherewithal to tackle the three debt-related lawsuits pending against him, as well as wage his own fight against Cedars-Sinai Medical Center and billionaire investor Robert Day, the owner of the home where he fell down and broke his neck last year.

McMahon filed a negligence lawsuit against the two July 18, contending that Cedars, after three surgeries, ultimately gave him shoddy care and that Day didn't have the proper safety measures in place at his Bel-Air estate.

In response, the hospital's legal camp on Wednesday filed motions to dismiss McMahon's claims of fraud, battery, elder abuse and emotional distress and prevent him from collecting punitive damages.

A hearing is scheduled for Sept. 18.

Image:© 2008, , Jae C. Hong, Tammie Arroyo / AP Ima

Copyright 2007 E! Entertainment Television, Inc. All Rights Reserved.
 
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