saw this in boxing news magazine.both larry and Frazier are closing and selling their gyms.im not shocked joe's is closing down but i though larry had enough investments to keep the gym open proof http://www.larryholmes.com/Gym.html
I doubt it. Holmes is pretty well renowned for managing his money wisely and not spending wrecklessly... His gyms however, have been long known to be a losing investment, and another poster on here who has trained at one of them even said so.. I don't think Holmes is in financial trouble, but rather is getting rid of a headache..
From what I hear and understand of Larry selling his gym (which has been for sale before) is he gets pissed, then one of his many brothers (one is a realtor) convinces him he can get a few million for it, and Larry being Larry goes for the money. He loses $4,000 a month for the electric alone on the building, and recently the people he is renting to upstairs are being complete tools. They have 3 woodchipper trucks (the size of dumptrucks), at least 5 cars, and constantly are filling at least half of the parking area with their junk. My best guess (and same with Larry's brother and son and law who help train) is that Larry is pissed so he's just trying to get some money out of his anger. Nobody really knows what is going through his head because he is still pulling a lot of money a year.
