There have been several rumors about Michael Jackson’s current financial situation lately, especially after almost loosing his Neverland Ranch which he reportedly saved with the help of some investors.

So, it should come as no surprise that Jackson has decided to get back into the studio and produce another record. Producers Akon and RedOne are among the names which have been hired to head up the project.

The three started recording the album in a Las Vegas studio this past Wednesday.Reportedly, Jackson still does not have a record label interested in distributing the album and Jackson doesn’t plan to search for one until the entire album is completed.

Other reports claim that Michael has sworn off women until the completion of the album in order to stay focused. Jackson reportedly had maintained a relationship with his children’s nanny, Grace Rwaramba for sometime although Jacson was quoted as saying that she wasn’t around any more.

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