Michael Jackson is best known these days for his ever mounting debt. To get some much needed cash Michael Jackson is in talks with AEG Live’s Randy Phillips to go on tour for three months from March through May 2008. At this point, however, those talks are only a rumor. There are many issues with any tour for Michael. First he may not be able to get insurance easily since he’s known for being unreliable and missing tour dates. Second, who get’s the money? Refinancing for his $300 million debt was due on December 1, and that did not happen, so he is in default on the loan which was secured by his Neverland Ranch. Complicating matters further, a German promoter Marcel Avram won a legal case against Jackson in 2005, and since claims to hold the rights to any world tours. Prince Abdulla of Bahrain is suing Jackson for $7 million and may also stake a claim against proceeds from a tour. Even if Michael does tour, he will need to do a lot of shows to make a profit. The Jackson Five are slated to get back together in 2008, which may be an effort by Michael to circumvent any court decisions so he can keep more of the money he makes.

Janet Jackson just announced she will be touring with her brothers, including Michael Jackson, in the 2008 Jackson Five world tour. Jackson’s album due to be released in February of 2008 will no doubt ride the wave of publicity surrounding the Jackson Five reununion. Jackson’s new album is being executive produced by Def Jam CEO Antonio "L.A." Reid rather than Jackson’s boyfriend, Island Urban president Jermaine Dupri. Dupri is working on Mariah Carey’s new album, which should be out next spring. Dupri told Billboard in July, "We’re going to make it seem like we’re in competition to see who’s going to have the biggest album of the year." Jackson’s last album was a failure.

The 2008 Jackson Five world tour will now include Jermaine Jackson, Janet Jackson, and Michael Jackson. Jermaine hasn’t done much in years, Janet’s last album bombed, and Michael is desperate for money now to pay his debts.

Jermaine has told reporters in the U.K., “We feel we have to do it one more time. We owe that to the fans and to the public.”

Asked whether Michael would be involved, Jermaine told BBC 6Music: “He has to be, he is a Jackson. He was at the meetings. Michael will be involved.”

Michael is in financial trouble. This is how Michael’s family are bailing him out, and helping themselves at the same time.