Priscilla Presley has sold her Los Angeles mansion for $ 3.8 million dollars and will reportedly use the proceeds to help her daughter Lisa Marie Presley out of financial troubles according to Radar Online.
Lisa Marie Presley the only daughter of the late King of Rock and Roll Elvis Presley and Priscilla Presley has been facing some major financial problems for many years.
As previously reported Lisa Marie revealed that she is broke, having spent and lost all of the millions of dollars left to her by her father Elvis Presley. Lisa claims she spent a ton of money on drugs, and then rehab, but she also claims she was swindled after her former business manager made a lot of bad investments on her behalf.
Lisa has been battling drug addiction off and on for many years, she is also currently engaged in a nasty divorce and custody battle with her soon to be ex-fourth husband Michael Lockwood.
Things are so bad for Lisa Marie financially that mom Priscilla sold her mansion for $3.8 million to help her daughter out of financial trouble. Priscilla has never lived in the mansion, so it will not be a sentimental issue to her.
However, sources close to Priscilla stated, “Priscilla would never have done this if she didn’t believe it was her daughter’s last chance.” Lisa Marie Presley and her mom Priscilla have had a tough relationship over the years and this could be Priscilla’s way of trying to finally smooth things over between herself and her daughter once and for all.
As previously reported there have also been multiple rumors that Lisa Marie Presley has been planning to write a tell-all book about her life with her famous father, his death, and being a Presley. There has also been talk that Lisa is also planning a major concert tour with a hologram of Elvis in hopes of regaining her financial independence back once and for all.
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