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Riley Keough, granddaughter of Elvis Presley, has taken legal action to prevent the foreclosure sale of Graceland, the legendary Memphis estate that was home to the King of Rock and Roll.
In court filings, Keough stated, "Graceland is more than just a house; it's a living embodiment of my grandfather's enduring legacy. Allowing it to be auctioned off to the highest bidder would be a disservice to his memory and a betrayal of the fans who have kept his spirit alive for generations."
The dispute centers around Authentic Brands Group (ABG), which acquired the majority stake in Graceland and Presley's intellectual property rights in 2022 for $175 million. ABG has allegedly defaulted on loan payments, prompting the lender to pursue foreclosure.
"This case is about more than just dollars and cents," said Mark Roesler, Keough's attorney. "It's about safeguarding the integrity of an American cultural treasure and ensuring that Graceland remains a site of pilgrimage for Elvis fans worldwide."
In an affidavit, Keough, who inherited a stake in the estate from her late mother Lisa Marie Presley, emphasized Graceland's significance, stating it should not be "auctioned off to the highest bidder."
ABG has not publicly commented on the alleged loan default or foreclosure proceedings. The company previously stated its acquisition allowed it to "further promote the authentic Elvis Presley brand."
The legal battle has sparked concern among Elvis fans and cultural preservationists about protecting Graceland's legacy. The Memphis mansion has been a top attraction since opening to the public in 1982.
"Graceland is a piece of American history that should be preserved for future generations," said Angie Marchese, vice president of the Official Global Elvis Presley Fan Clubs. "We stand with Ms. Keough in her efforts to keep this sacred place in the Presley family."
The case raises questions about how celebrity estates and cultural landmarks should be managed long-term. The outcome could set a precedent for similar disputes involving famous properties and intellectual property rights.
