Kanye West To Purchase Elvis Presley's Graceland

Graceland, the former Memphis home of Elvis Presley, may be scooped up by Kanye West, according to the Daily Star. A Source has indicated that Lisa Marie Presley is taking offers on the 13-acre property.

Estimates put the estate's value at about $85 million, a small price to pay, said the source, for Ye to secure his musical legacy.

"Kanye thinks owning Graceland and restoring it to its former glory would cement his place in showbiz history," the source said. "Kanye has always been intrigued by Elvis, especially his influence in bringing blues and gospel music to the masses."

Skeptics have noted that Lisa Marie is not keen to part with the property, insisting on hanging onto it a few years ago even as she sold off 85 percent of her dad's estate.

According to Ultimate Classic Rock, Graceland still pulls in over 500,000 tourists a year.