There is a scripture, Mark 9:24 that says, “I do believe; help me overcome my unbelief!” I believe THAT was Muhammad's mindset going into the Holmes fight. When he was training in the weeks before he believed. He thought coming in at that weight (217 I think?) was a really good sign. At the press conference when he had the crowd chanting with him ,"FOUR TIMES", he believed. But when a close member of his entourage said he was going to bet a large sum on the fight, Muhammad wasn't so sure and told him not to. When he was coughing and tired during sparring, he wasn't so sure. I do not think it was just for the money. Muhammad had too much honor and self-respect. He also had easier ways to make money. In terms of what his entourage thought... several people tried to talk him into canceling or postponing when it became evident that he was unwell. And I know at least one who bet against him. What a sad, sad night.
For that fight his strength became his weakness. What's even more shocking was that he fought Berbick after this and arguably boxed reasonably well !
Great fighters tend to always see themselves as what they once were, not what they currently are. To be great you have to engage in some form of self deception, and Ali was great. He was coming off of a win, after all. He knew how to win fights. In his mind, he still was the linear heavyweight champion. And Holmes was just his sparring partner. Ali always believed.
He believed it even AFTER he got that ass whooping. In the interview with Parkinson, he said he needed 2-3 more tune up bouts and he wanted to challenge Holmes again. Totally delusional.
Ali thought he could win and so did a lot of sports writers, bettors, and fans. There is/was a video of Ali and Holmes sparring from around 1974 and Holmes had no problem with Ali even then. Of course it was sparring, but Holmes had only been boxing for a few years at the time and if Ali had thought about it, he should have assumed that the inexperienced Holmes of '74 had only gotten better. The sports writers were writing complimentary reports about Ali's training before the Holmes fight. ( https://www.si.com/boxing/2015/09/23/muhammad-ali-larry-holmes-title-bout) The odds had dropped. Holmes was initially a 3-1 favorite but by fight time the odds had dropped to 8-5. (https://tss.ib.tv/boxing/featured-b...he-super-fights-of-the-last-40-years-part-two). All of the excuses came later, after Ali lost. Maybe Ali did look good prior to the fight and Holmes was just that much better?
Was that Holmes handing Ali or Ali screwing around? Larry Holmes barely had 10 pro fights in 1974. I think a lot of Holmes, I have him No. 3 all time, but he was not in Ali’s league at that point in time.
I don't know what was in Ali's mind when he was sparring Holmes, but I'm skeptical that any fighter allows himself to be beaten up, whether it is sparring or fighting. Why would he? This wasn't Ali leaning on the ropes and attempting to take or block body shots from an over matched sparring partner. Holmes was not over matched. Ali didn't appear to be "screwing around." He might have found that he couldn't handle a younger, quicker, hungrier fighter and tried to make it look like he was playing. IMO, the later (76-77?) video of Ali sparring the teenage Dokes is much the same, Ali couldn't handle Dokes' speed so he tried to convince the audience that he wasn't trying. Luckily for Ali, Dokes only opened up a few times on him and didn't try to hurt him.
If there is one characteristic that separates Ali from his opponents (besides his ability to absorb punishment) it was his self confidence. No way he goes into the ring thinking he would lose. Did he need the money? He always needed money.
That is the Rosetta Stone to the Holmes fight that people ignore. If he hadn’t been doing that, he’d have come into the fight at least able to defend himself although he’d still have gotten his ass beat. He’d have been like he was against Berbick.