RowePaidOff.jpgThe Jackson family is reportedly paying Debbie Rowe $4 million to drop all claims of parental rights, the New York Post is reporting.

Describing the payment as "a ransom," the Jacksons reportedly worked out the deal with Rowe so that Michael Jackson's two oldest children will be raised by his mother Katherine.

"It's one final payday," a Jackson family friend reportedly told the Post.

Rowe was initially paid $8 million to give up custody of Prince Michael, now 12, and daughter Paris, 11. She received another payment of at least $4 million to give Jackson full custody of the kids after he was charged with child molestation in 2001.

UPDATE: Debbie Rowe's lawyer says the story is "completely false." Eric George tells CNN that right now there is no custody deal between Rowe and the Jackson but that the two sides were working on an agreement acceptable to all.