Katherine Jackson and Debbie Rowe make deal to keep papa Joe from exploiting the kids

Reports are surfacing that Michael Jackson’s beloved Mother, Katherine, and former wife, Debbie Rowe have agreed a deal to protect Michael’s three children from their grandpa’s new scheme.

Lawyers hired by the women are said to have been in discussions late Friday, focused on ways to prevent Michael’s father, Joe Jackson from exploiting the children as the new ‘Jackson Three.’

If the deal is confirmed, Katherine Jackson, 79, will raise Prince Michael, 12, Paris, 11, and seven-year-old Prince Michael II [known fondly as 'Blanket',] while Debbie Rowe will drop all claims of custody, but have regular access. A custody hearing due to take place today has now been moved to next week so the attorneys have more time to work out all the rules.

“They can’t stop Joe seeing the kids at family functions and parties, but they will fight to prevent him having any formal role in their upbringing,” says a source close to their lawyers.

Ian Halperin, Jackson’s official biographer seemed to confirm the plan Friday, telling reporters: “Joe wants the children to do a world tour in 2010. He’s already offered two of them recording contracts; Now he’s talking about taking them all on tour as, ‘The Jackson Three.’”

As their manager in the Jackson Five’s early years, it’s well known Michael detested his father and the way he abused them, and this is confirmed by the source, “The last thing Debbie wants is for those kids to be looked after by Joe and go through what Michael went through,” they told the Telegraph. “Katherine also knows it’s best for the children if she and Debbie agree this between them and keep it out of the courts.”

Amen to that!