Holyfield Is Broke

How can the ****ing guy be broke with all the MOney he has made, in the ring, the interest, endorsements, etc..im sure he has invested some of it jeez..

 

http://espn.go.com/sportscentury/features/00014242.htm

It looked like Holyfield's career was shot. He was going to have to settle on living happily in his new $15 million mansion in Atlanta, a 54,000-square-foot home with 17 bathrooms.



http://www.thesweetscience.com/boxing-article/4217/russians-are-coming-evander/

Trainers, friends, well-wishers all would like Holyfield to go back to his 109-room, $38-million mansion and count his money or children. This makes him a little testy, though.


This is the inside of his mansion.

http://blackburnstudio.com/images/hstairs.jpeg

Outside:

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I am amazed at how many top fighters end up being broke despite earning more money in a year than I will ever see let alone earn. How do they do it? I hope he has something left and learns to control his spending, I'd hate to see him end up like so many other former champions.

 

What a dumbass

 

I've seen his mansion before, it's ****ing enormous! But what an idiot. I remember reading an article years back where it said Holy had made around 90 million dollars up until that time and he's had several fights since I read that article. The guy should be a huge multi-millionaire at this point of his career. What a douche!

 

It's amazing to think that The 2 biggest names in boxing over the past 20 years are now broke

I have no sympathy! If they both did nothing else in life but fight eachother those two times they would have still made more money then I probably will ever make in my entire life. And I'm gonna sit here and feel sorry for them atsch And another thing, saying their broke is still saying they have a shitload more money or at least earning potential then I have So **** them mother****ers!

 

Tyson was spending like $200k a year on......... Tiger food , what a dumb **** :rofl :rofl :rofl :rofl

 

King stole some of it. I'm sure it was a lot of money he took, but Tyson deserves blame as well.

I mean, who spends over $400,000 on LAWN CARE?

 

http://www.thesmokinggun.com/archive/mtysondiv1.html

 

Like he knows the difference between a $400k a year lawn and a $20k a year lawn.

 

Definitely!

I once joked here that Alex Stewart went over to Holyfield's house to talk about a third bout, and was never seen again. Not only is his mansion massive but the grounds and surrounding facilities even more so...damn thing is like a palace.

So no wonder that eats up some serious dough, and with his well-known child support payments and alimoney...

Still though, even then it's a shock to hear about someone that made as much cash as Holyfield being a little short up.

 

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[FONT=helvetica,arial]Posted: Thursday June 06, 2002 4:27 PM[/FONT]


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It's more than must-win for Mike Tyson on Saturday night in Memphis. If he loses to Lennox Lewis and the bout turns out to be his last big payday, it may not be long before we see Iron Mike file for bankruptcy.
Tyson has been living and training on

borrowed money. By his own admission, Tyson has blown through $500 million. He needs another major fight or two before he can emerge from debt and insolvency and rise to a minimum level of net worth.

As incomprehensible as this may be, that a half a billion estimate might be too low. Records filed in U.S. district court in New York in conjunction with the fighter's lawsuit against promoter Don King demonstrate how Tyson managed to exhaust $115 million in the 33 months following his release from prison. That's an average monthly expenditure of nearly $3.5 million. From 1995 through '97, Tyson spent at this level while training for six fights and earning a total of $112 million. Yes, Tyson put himself $3 million in the hole when things were going well.

How does one spend so much money so fast? According to a detailed summary prepared for the boxer by his former accountant, Mohammed Khan, Tyson went through nearly $8 million in "cash and personal expenses" -- accounting jargon for "walking-around" money. The average monthly outlay came to $236,184 per month, or close to $8,000 per day.

Those daily expenditures do not include monthly tabs of $94,555 for jewelry and clothing, $18,145 on travel expenses.

Various automobiles and motorcycles cost the fighter $4.5 million, plus $1.7 million in insurance and maintenance. In addition to his own fleet of vehicles, he purchased 17 cars as gifts, giving 15 of them to a collection of women.

The boxer's three houses and two apartments cost him more than $18 million. He spent nearly $1 million in lawn care alone during these 33 months. The records also show that Tyson spent $5.7 million on yet another house; according to documents prepared by one of his accountants, John Evans, the house was for a girlfriend.

Tyson's expenses also include settlements of $1.7 million in liability cases. Most of that sum went to Desiree Washington, the young woman he was convicted of raping in Indianapolis during the 1991 Miss Black America pageant. And the records show that during this period he made a one-time payment of $4 million for a son named Amir and paid another $228,321 in child support.

Meanwhile, in 1996, he gave himself a birthday party for $410,822. He lavished another $411,777 on his pigeons and cats. Yet another $239,552 went to pagers and cell phones ($7,259 a month).
State and federal taxes, according to the records, totaled $32.4 million, plus he faced additional charges from the Internal Revenue Service.

If Tyson cannot earn another fight purse, his only recourse may be his lawsuit against King, the promoter who produced his first six fights after his release from a Plainfield, Ind., penitentiary. Tyson claims that King fraudulently diverted more than $40 million from him; according to Tyson's lawyers, King, who was supposed to get a 30 percent cut of the boxer's winnings, somehow wound up with $113 million to Tyson's $112 million.

Tyson may find King to be a more difficult opponent than any he has faced in the ring. King's litigation history is impressive. He has fought the federal government to a standstill in three trials on criminal charges. The early line on Tyson's claim against King has the promoter winning easily. The boxer may be down for the count.
Sports Illustrated legal analyst Lester Munson regularly holds court on sports law and business matters on CNNSI.com.

 

That was one report.

Other reports have said over $400k, and that other article above said he spent nearly a mil in 3 years on lawn care.

 

This is truly the greatest advice I have ever heard !