Pop superstar MICHAEL JACKSON is facing yet another financial woe - a lawsuit from the Sheikh of Bahrain for backing out of a planned record deal.

The star allegedly signed an exclusive deal with Prince Abdulla Al-Khalif to pen an autobiography, release two albums and help produce a musical of his life.

Al-Khalif alleges he gave the singer a $120,000 Rolls-Royce and paid for Jackson to maintain control of his Neverland Ranch in 2005 following his acquittal on child-molesting charges, according to Britain's The Sun newspaper.

The case is reportedly set to be heard at London's High Court.

Jackson's beloved Neverland Ranch was sold earlier this month in a joint venture with the pop star rename the property and revamp its image.