Reports say the Jackson family has finally determined the price of ridding themselves of Debbie Rowe, the self-described “thoroughbred” Michael Jackson’s two oldest children rode in on. Debbie will reportedly get $4 milion to drop any custody fight that would keep Prince and Paris Jackson out of the custody of their grandmother. From the New York Post:

Lawyers for both sides tried to spin it that no money had changed hands, but in a carefully worded statement, the family admitted yesterday they would continue paying her dough promised to her by Jacko — a verbal contract that died with him. “The parties have neither sought nor agreed to any compensation to be exchanged, apart from the continuation of spousal support payments that had previously been personally agreed to between Michael Jackson and Deborah Rowe,” lawyers for both sides said.

The Post first reported the $4 million settlement two weeks ago.

Sources said Rowe, who was left nothing in Jacko’s will, claimed the pop icon had been paying her $1 million a year, but she had no written proof of the arrangement, so Jackson’s brothers argued they try to ice her out. Even the family’s lawyers argued they had grounds to fight it, but Jacko’s mother, Katherine, 79, decided to give Rowe what she wanted to make her go away for good, the sources said. “They just want to get rid of her. They recognized early in this process that she had no interest in playing a real role in their lives and that it was all about money,” one source said. In the end, the family agreed to fork over several hundred thousand dollars a year for a fixed period.

Katherine will remain the guardian of Prince, 12, and Paris, 11, and Rowe will be allowed supervised visits.

The Post claims that Rowe’s erstwhile pledge to fight for custody of her children was really about pressuring the family to keep on paying. The Superficial concurs on the money, and adds that Rowe also poked her head up so as not to look like she abandoned the kiddies altogether.

Meanwhile, TV One pimps its softball interview with MJ’s insane father Joe Jackson for all its worth (even getting its interviewer booked on CNN), complete with a phony “choke up” and claims that 25-year-old Norwegian rapper Omar Bhatti really is Jackson’s love child. The lead-in says it all:

Meet the real Joe Jackson — beyond the rumors, beyond the stereotypes, beyond the usual answers to the typical questions.

In a joint NewsOne/TVOne exclusive, Joe Jackson reveals more than ever before of himself and his relationship with his late son Michael. Joe Jackson talks candidly with NewsOne’s Smokey Fontaine about:

• … the young man, Omer Bhatti, who has been rumored to be Michael Jackson’s biological child
• …Michael’s death, and how his son would be alive today if he had been there for him
• …Michael’s grandfather, “Professor Jackson,” who was, in many ways, Michael’s inspiration

Cue the violins. Problem: Omer Bhatti has an opinion on the matter of who his father is, and he says it’s NOT Michael Jackson. One would think TV One/”News” One would be more skeptical of claims by Joe, who had approximately zero relationship with his son.

Previous: How to ditch a gold digger

More: Michael Jackson’s death

You pay her off. From the New York Post:

Michael Jackson’s baby mama Debbie Rowe has sold her kids again — this time squeezing about $4 million from her former mother-in-law in exchange for giving up her parental rights, a family source told The Post yesterday.

“It’s one final payday,” the disgusted Jackson confidant said.

The family isn’t happy about the mega-payout — which was set to be sealed in Los Angeles yesterday afternoon — but they consider it a necessary evil, the source said. “They felt it was like a ransom-type thing. [Rowe] jumped back into the picture because she wanted money,” the friend said.

Rowe allegedly got $8 million plus $900,000 a year to give up her parental rights the first time (although there were some questions as to whether all the money was paid) and then she resurfaced after Michael Jackson faced child molestation charges in 2001, and tried to reclaim her rights. That gambit resulted in another $4 million, plus a $900,000 house for Debbie, according to the Post. This time, the paper says the deal will cut her off from the kids — and their money — for good:

“This would be it. This takes away any rights she has to challenge custody at any given time,” the source said.

“If something happens to Katherine, [Rowe] can’t challenge the next [guardian], whether that be Diana Ross or someone in the family.”

According to the story, Ms. Rowe did NOT push to have Joe Jackson barred from the kids. If true, it really has been all about the Benjamins for Debbie.

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1. I ain’t sayin’ she’s a gold digger… Debbie Rowe wants the kids

Another NOTW bombshell allegation: that “The Boss” Miss Ross had a pact with Michael Jackson to keep his kids away from Debbie Rowe. Claims the tabloid:

Diana, 65, told a close pal: “I promised Michael I’d never allow that woman – we didn’t mention her name – to get to his babies.

“Michael was terrified she’d end up with their children should anything happen to him. He begged me not to let her get them. That was his worst nightmare.

“It’s a huge responsibility but I’ll keep my word if I have to. That woman doesn’t deserve them. With Michael passing I’ve lost my best friend, we were loyal to one another and I don’t know what I’ll do without him.

Ouch! If true, it could mean next week’s custody trial could get ugly … and star-studded…

“We discussed him putting me as the children’s guardian in his will but I didn’t know he’d actually gone through with it. I was shocked he’d made it official.

And why would Jackson have come to dislike the mother of his children, whom he seemed quite cool with in 1998? If you read between the lines of the News of the World Story, it could have something to do with those child molestation allegations back in 2003, and what Debbie did about them:

Rowe initially signed away her parental rights to Jackson in 2001, folllowing a 1999 divorce, agreeing he was the “best father ever”. But in December 2003, after 14-year-old Gavin Arvizo claimed Jackson had sexually abused him, Debbie made a legal application to regain temporary custody of her children.

After that, apparently Jackson became more distant:

… “I was always told that our children were treated like royalty and were very happy children. I wanted to speak with Michael over the past few years to talk about our children but he did not want to speak with me.

Could Michael have come to see Debbie as an enemy in the all-or-nothing war for his reputation? The plot thickens…