While searching for documents on MJ's licensing issues, I found the original contract for another old project of MJ's. So I jumped on this one looking for more information. Let's see what exactly happened...
MJ released his "HIStory" album in 1995, but his interest was more on other entertainment ventures. On March 19, 1996 he and a Saudi prince announced the form of a joint venture named "Kingdom Entertainment". Their first project was to sponsor MJ's next world tour, and to create a recording label under Sony called "MJJ Records" (dba. "MJJ Music"). They also acquired 55% ownership in "Landmark Entertainment" (5% owned by MJ) famous for Hollywood design projects.
Their next big dream was to build amusement parks all over the world. The prince already owned 24% ownership in Disneyland Paris, so it was a logical move. One of the possible places was in Warsaw, Poland.
MJ first flew to Poland as a part of his then world tour in September, 1996. He has been approached by a local businessman, Jacques Tourel director of the World Trade Center in Warsaw to consider Poland as one of the possible places.
MJ went back to Poland on May 28, 1997 to explore the possible venues for his new project. The local politicans were amazed and supported the $500 million investment. However MJ's people insisted it is one of the places they are thinking in, a June 1, 1999 date has been named for the opening. MJ furthermore signed a letter of interest in which both parties agreed to prepare for the contructions. MJ even set up a company in Deleware under "MJJ Poland Inc".
The original agreement can be found here: http://slimak.onet.pl/_m/TVN/tvn24/intencyjny.pdf
MJ has applied for a lease on a two-story baroque home outside Warsaw and way eyeing with other properties and business ventures.
The plans to build the amusement park on a nearby military airport have won approval from state officials in February, 1998. In the meantime MJ asked Landmark to create some sketches for the proposed theme parks. You may see the design plans here: http://disneyandmore.blogspot.com/2009/11/d-exclusive-michael-jacksons-peter-pans.html
After the approval of the project there was a big silent. The army that owned the airport didn't agree to give it to MJ. The other two grounds the government pointed out to was also denied because of the protests of local people. Finally the Polish government gave up their plans to do anything with the amusement park and the project faded out...