Joe Jackson wants Priscilla Presley to help him transform Neverland into the next Graceland.
The 79-year-old father of the late Michael Jackson sought out Priscilla and her daughter Lisa Marie Presley - Michael's ex-wife and the daughter of Elvis Presley - because he is keen to turn Michael's former home into an attraction for fans.
Joe believes Neverland could be as successful as Elvis' former residence Graceland.
National Enquirer magazine reports: "Joe secretly set about soliciting advice from ex in-laws Lisa Marie Presley and hard-nosed mom Priscilla Presley on how to turn the ranch into a perpetual money-machine, like Graceland - which has netted the Presleys hundreds of millions!"
Joe is said to be amazed at the amount of money Priscilla and her family have made from Graceland.
He is keen to buy the Neverland ranch - which Michael moved out of in 2005 following his acquittal of child abuse charges - from the mortgage company which is currently in charge of it as soon as possible.
Joe is also said to be considering exhuming Michael's body after it is buried and moving it to Neverland - even though the 50-year-old pop icon had said he never wanted to return after police raided the estate in 2003.
A source said: "Joe tortured Michael in life. If his scheme to bury Michael in Neverland succeeds, his son may never rest in peace. Turning Neverland into Graceland is one thing - imprisoning Michael's spirit in a hated place is a shocking betrayal."
Michael died of a suspected cardiac arrest last month.