Playboy Mansion update

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Playboy Mansion to become members' club?

The Playboy Mansion could be turned into an exclusive members' club.

The iconic property is currently up for sale for $200 million - though the buyer must agree for media mogul Hugh Hefner to continue living there - and Jeff Beacher, who owns Las Vegas nightspot Beacher's Madhouse, has met with Playboy executives to discuss buying the six-acre estate.

The businessman wants to create a partnership with Playboy Enterprises that would allow him to use the Playboy name for the club and has drawn up paperwork for a $90 million offer, comprising $12 million from himself and the remainder from partners.

Jeff confirmed to TMZ he is serious about his plan, which would see him invest $20 million in renovations, keeping the main structure intact and adding five bungalows for guests.

A Playboy executive told the website they would "seriously entertain" the proposal, but not necessarily his price.

However, with Holmby Hills, where the mansion is situated, being one of Los Angeles' most exclusive areas, it is unclear whether the businessman and his partners could get a license variance for a club.

Jeff's bid comes shortly after Larry Flynt - whose Larry Flynt Publications publishes pornographic magazine Hustler - expressed an interest in the property, but didn't want to meet the asking price, nor was he keen to have the 89-year-old magazine publisher living in the house, which was a condition stipulated in the sale.