When Holyfield went broke in 2012, he owed about $500,000 in child support. Former heavyweight boxing champion Evander Holyfield lost all of his fortune but how did it all happen News How did Evander Holyfield lose all his money? In this new world of novelty boxing matches that's Wild Wild West even by boxing standards, there's a lot of confusion when it comes to these matters. Holyfield (44-10-2, 29 KOs) accepted the Belfort assignment on just eight days' notice after Oscar De La Hoya tested positive for COVID. "Iron" Mike's November exhibition with Roy Jones Jr. -- a Triller event -- was a massive success. The wealthy businessman made a killing when he purchased the opulent estate for $5.8 million. Just like Mike Tyson, Evander Holyfield somehow managed to blow through a fortune that at one time peaked above $200 million. On Saturday night, Holyfield got absolutely demolished in his fight against the former UFC champion which ended in the first round. The sport of boxing is one of the most lucrative in the world, with the ability to produce some of the best fighters of all time. I do what I have to do.". With lawsuits and penalties to the IRS, Holyfields net worth drastically dropped until it stabilized at around $500,000. UFC legends Anderson Silva and Tito Ortiz meet in a professional boxing match in the co-feature. Holyfield, boxing's only four-time world heavyweight champion, formally announced his retirement from the ring last year, at the age of 51. Videos by OutKick. Holyfield took the fight on short notice, as The Golden Boy Oscar De La Hoya tested positive for COVID-19 and had to pull out of the fight. The first thing to know about having a lot of money is there's a lot more money to spend, and former champion Evander Holyfield did a lot of spending. Rapper Rick Ross purchased the home in 2014. It reports come after it was found that Oscar De La Hoya has tested positive for . When Floyd Mayweather-Logan Paul met in an exhibition match in June, a fight supervised by the FAC, there was no official winner and no judges. How did Evander Holyfield lose all his money? Football, basketball, boxing, it didn't matter. Here's how, You sense the market is desperately hoping the Fed is done hiking interest rates, says Peter Boockvar. According to a lawsuit Evander Holyfield recently had with Triller, hell be paid $5 million for the fight. The deal also required Holyfield to fund his sons future education by filling an account with $100,000. Evander Holyfield sold his 109-room Georgia mansion to Rick Ross for $5.7 million, which is the largest single-family home in Georgia and sits on 235 acres. Data is a real-time snapshot *Data is delayed at least 15 minutes. Belfort hasn't fought since May 2018, a second-round KO loss to Lyoto Machida at UFC 224. In 2014, a 54,000 square-foot mansion purchased by music mogul and entrepreneur Rick Ross was reported to have sold for $10 million. He was 13-0 when he lost to WBC World Light champ Jim Watt, 36-7, in Glasgow, Scotland, in June of 1980. Evander Holyfield's loss is Rick Ross' gain. Boxing is one of the most lucrative sports around for the handful of fighters capable of making their way to the top. Vitor Belforts pressure proved to be too much for Evander Holyfield. Evander Holyfield was once thought to have earned more than $230 million in a single fight purse. According to the index, any fighter who falls in one of those three categories needs further clinical evaluation by the commission and their medical advisory board before licensure. His expenses kept his net worth somewhat depressed despite all that revenue. Ronda Rousey Painful Health Rumor Revealed, Donald Trump Jr. The mansion came to market shortly thereafter for $8.2 million and was offered for as low as $7.89 million before hitting the auction block in November 2013 with a starting bid of just $2.5 million. And with his kids happy, healthy, and doing well in school, Evander Holyfield couldnt be happier with where it all ended up. "This is the first time my kids ever told me 'Dad, you don't need to be getting hit,'" Holyfield said. California, which has more stringent regulations, declined to license Holyfield to fight, whether it was in an exhibition or an official fight. Today, his wealth is stabilized at around $500,000. The home was said by Daily Mailto cost Holyfield a solid $1 million per year, and that's just in taxes and upkeep. https://t.co/6f7eB955Xr, Mark Ortega (@MarkEOrtega) September 12, 2021, Brobible sports editor. Get this delivered to your inbox, and more info about our products and services. Holyfield and Belfort will compete at heavyweight, the unlimited weight class. Holyfield lost money on failed business ventures and, as the Independentreported in 2012, by blowing it at every casino in Las Vegas and Atlantic City. Plus-3 to plus-4 is considered High Risk Category "C." Category "A" (+7-+9) and "B" (+5-+6) are for fighters who are considered to be an even greater risk. The $230m he earned over a. The boxing career of Evander Holyfield has been marked by highs and lows. More so, he's still chasing a lucrative third fight with Tyson. Holyfield has 11 children from five different mothers, according to the Independent. A bowling alley, a movie theater, and a movie theatre are among the attractions at Rick Ross mansion, which has 109 rooms. Evander Holyfield estimates he earned more than $300 million from his 57-fight career. The property includes a basketball court, a tennis court, a gym, a pool and a home theater. The Boxing Tribunesays he dropped most of his cash betting on a variety of different sports. Mike Tyson chomps on the ear of Evander Holyfield in the third round of their WBA heavyweight bout in Las Vegas in 1997. A Division of NBCUniversal. Get the Daily OutKick and get smarter every day. His total earnings were around half a million dollars, including brand deals. All fighters over the age of 40 who apply for a license in Florida are subject to an eye exam, blood work, an MRI and EKG, per the commission. So what does Holyfield say to those who say he shouldn't be fighting at 58? His biggest fight, the infamous Holyfield vs. Tyson II, that spun out of control in a bizarre ear-biting finish by Mike Tyson, brought in just over $100 million by itself. Here's a look back at the time Evander Holyfield lost his extravagant 109-bedroom house following a series of poor business decisions and investments. From there, Holyfield would go on to hold the heavyweight world title four times, and, more notably, have a chunk of his ear bitten off live at MGM Grand Garden Arena by Mike Tyson in 1997. Evander Holyfield was once thought to have earned more than $230 million in a single fight purse. The mansion, which includes 12 bedrooms and 45,000 square feet, is located on 105 acres and has become a tourist attraction, according to Rozay. Copyright 2008-2023 BroBible. The Real Deal took home a bronze medal from the 1984 Olympic Games, won his first junior heavyweight title in '86, and became the undisputed cruiserweight champion in '88. All Rights Reserved. One of heavyweight boxing's biggest names estimates he earned US$200 million (NZ$312m) from his 26 years in the ring. Other financial losses came from Evander Holyfield's home life. He spent $5.8 million on the Georgia estate he purchased from Evander Holyfield, which included 109 rooms. He bought a mansion with 109 rooms, complete with a 135-seat home theater, a bowling alley, and a dining room meant for over 100 people. Owing nearly $15 million on the property with no end to his debt in site, Holyfield sold the absolutely massive Fayetteville mansionconsidered the largest single-family home in the state of Georgiato a bank in 2012 for $7.5 million. The mansion has become a significant example of Georgian real estate due to its unparalleled features and recreational facilities. The $230m he earned over a. His wealth was quickly slashed in two, and he agreed to $36,000 in yearly payments for child support. And yes, this will be his first fight since he defeated Brian Nielsen in 2011, capping one of the greatest in-ring careers of all time. Now, 57-year-old former champ Evander Holyfield lives in a two-bedroom. B/R's combat sports team was in the house for "Triller . Basically, the boxer had more kids and ex-wives than he could reasonably afford. Does Rick Ross own a multi-million dollar mansion in Georgia? Published: January 6 2014 22:05. Holyfield sold the mansion to a bank during a public auction for over $7 million, but the boxer had owed at least $14 million on the mortgage at one point, according to the Independent. A landscaping company sued him for $550,000 for unpaid services. When you examine this particular event, the confusion is even greater. First, an ongoing divorce settlement wrapped up after he bought his home. Rumor has it that the larger-than-life hip-hop icon and MayBach Music founder has made a massive buy in Georgia, buying up a ridiculous 44,234-square-foot mansion built for and previously owned by boxing legend Evander Holyfield. Yes, Holyfield is 58. Belfort is 14 years younger than Holyfield and looks to be in much better shape than the former champ. Holyfields 109-room home in Georgia is listed for sale for $5.7 million, with a bowling alley, theater, and pool included. Many rooms were transformed for the latter films sequel, which was created in a suitable setting. Holyfields wealth was unimaginably massive, but expenses have a way of scaling up to any level. I know all the things that's necessary to be safe. The Englishman ended his career with seven consecutive losses, his last fight coming in December 2015. In 2008, the global housing market crashed, and he defaulted on his mortgage at the wrong time. In 2012, Holyfield lost the home after failing to pay $14 million in debt payments. However, a story on Rolling Out revealed that one of the rappers contemporaries, Meek Mill, posted a picture of his friends purchase on Instagram. After all, the perils of riches lay mostly in how they're spent. Holyfield, boxing's only four-time world heavyweight champion, formally announced his retirement from the ring last year, at the age of 51. The lawsuit was for a mix of back child support and unpaid maintenance. he's bragging about making an outrageous amount of cash for the gig, and his deal has a . Atlantas 109-room mansion, which was built as a monument to his success, was auctioned off in 2008 for 4.2 million, with Ross purchasing it. "If he had the right team behind him, he would have never lost his fortune.". Holyfield competed in boxing till the age of 48 years, with his last professional bout coming against Brian Nielsen back in May of 2011. Oscar de la Hoya Sad Hospitalization Video Leaks. He defaulted on his mortgage at exactly the wrong time. A legal notice from Washington Mutual Bank in June of 2008 revealed that the 54,000 . Evander Holyfield Apparently Made $5-6 Million For Getting Beat Down By Vitor Belfort According To Boxing Insider by Jorge Alonso September 12, 2021 10:31 am Getty Image Evander Holyfield apparently got paid very well for his two minutes inside the ring against Vitor Belfort. Also on the card is former heavyweight (and cruiserweight) champion David Haye who is coming out of retirement to meet Joe Fournier in a sanctioned fight. Surely it wasn't, but it may have been a bit easier had the former champion not blown all his cash on mansions, cars, and gambling. The true price was even higher, however. Evander Holyfield VS Mike Tyson - "The Sound and the Fury" AKA "The Bite Fight" in 1997 This is the fight with the 4th highest payout of $35,000,000. A dedicated pro wrestling follower for more than a decade who feels fortunate to express the love for the art through writing. They did not release the earnings of these boxers to the public. When they were set to fight in Los Angeles on the same date, the fight was an exhibition. But why fight at all if you're Holyfield? Evander Holyfield will return to the ring Saturday against a legendary mixed martial artist, former UFC light heavyweight champion Vitor Belfort. He had extraordinary longevity, sticking it out for 26 years before retiring at 51 years old. Built in 1994, the estate was originally the home of heavyweight champion Evander Holyfield. In total, Holyfield married three women and was divorced twice. Holyfield sold the mansion to a bank during a public auction for over $7 million, but the boxer had owed at least $14 million on the mortgage at one point, according to the Independent. By: Holly Aguirre. At his peak, Evander Holyfield had a reported net worth of $200 million. His then-18-year-old daughter sued him for $300,000 of it. Evander Holyfield to pay $36,000 a year in child support By JOHN HOLLIS Former heavyweight boxing champion Evander Holyfield and the Clayton County woman with whom he fathered a child reached a financial agreement Wednesday afternoon. 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He has been covering the NBA, MLB and NFL professionally for almost 10 years, specializing in digital media. Evander Holyfield vs. Vitor Belfort -- Round 1: Holyfield opened up with a few jabs as Belfort circled with his guard up high. Back in 2014, Rick Ross bought legendary boxer Evander Holyfield's mansion in Fayatteville, Ga. for $10 million. In July of 1988 . In addition to sheer square footage, the hip-hop haven known as Villa Vittoriosa (meaning The Victory) weighs in with 109 rooms, 12 bedrooms, and 21 bathrooms. In addition to an in-house bowling alley, the home is about as close to a sportsmans paradise as one will find. Is this the result of systemic racism somebody tell your president an Vice President that one black man sold this monstrous mansion for millions to another black man happens all the time not in china but here in this great country mfers. According to BoxRec, he earned that with 44 wins across 57 fights, including 29 brutal K.O.s that helped made him a household name. The whole thing's about protection. His record: 15-40-3, 1 KO. MMA legend Vitor Belfort knocked out 58-year-old former heavyweight boxing champion Evander Holyfield in the main event and Anderson Silva continued to raise his stock on the boxing side of. The child support is really where the boxer's family debt began to get out of hand. Then De La Hoya contracted COVID just days before his fight with Belfort, opening the door for Holyfield to step in, solving two issues at once. Plus you gotta understand, they saying fight somebody who boxing ain't his thing.". In 2014, Evander Holyfield paid $8.5 million to build a home in Atlanta, Georgia. Boxing, however, is a free-for-all, and by comparison, $6 million for a title fight or whatever Holyfield and Trump are being paid for whatever Saturday night's event was is a veritable. ET. football player for Diego Juniors FC. Holyfield also committed to paying for his three childrens private educations as a personal commitment. Evander Holyfield is one of those fighters. He is currently And he seems happy again. Both fighters also weren't supposed to push for a knockout. In a career spanning around 26 years, the former Cruiserweight and three-time heavyweight champion of the world amassed a lot of wealth through fight purses alone. After the former heavyweight champion had to sell his 45,000-square-foot mansion to a bank for $7.5 million, it went back on the market for $8. 2023 CNBC LLC. The same Independent piece notes that Holyfield spent $10 million on a massive 45,000 square foot mansion. Mayweather's weight limit was 160 pounds; Paul's was 190. def. Holyfield reportedly spent an additional $1.5 million on furnishings and decor for the home. arrivals in the venue shortly after 6 p.m.an hour before the pay-per-view broadcast got started. Ross Rolls Royce Phantom Drophead Coupe, which is housed in the massive garage, is the ideal vehicle for the massive garage. "At least I'm fighting somebody that I know I can protect myself [against]. Evander Holyfield apparently got paid very well for his two minutes inside the ring against Vitor Belfort. On its 235-acre grounds is a handball court, a softball field, a tennis court, a seven-stall barn, and a 350,000-gallon pool billed as one of the largest in the nation. Allan Binoy is a Combat Sports Author at EssentiallySports. Regardless, the Commission will be supervising the fight.". Holyfield owed the IRS twice as much money, with his plight hitting the headlines . As his net worth fell through the floor over just a couple years, the bills of a much wealthier person kept rolling in. "Dealing with all the mothers of all my kids there ain't no winning here, man, no winning at all," Holyfield said in 2012 (found via the Independent). Today that would be about $52,400,000. (via @OmarESPN) pic.twitter.com/wlR89gCjJC, ESPN Ringside (@ESPNRingside) September 12, 2021. The mansion stands at 45,000 square feet and is situated on more than 235 acres. In the former heavyweight champ's case, the risk outweighed the rewards by a large margin. Allan is a semi-professional Holyfield once claimed the home cost more than $1 million annually to maintain with an electric bill reportedly costing $17,000 a month. The biggest monetary problem for Holyfield turned out to be the massive mansion that he bought for $10 million. Holyfield will fight Kevin McBride in an exhibition match that has yet to be rescheduled. Evander Holyfields net worth has been reduced by half as a result of his mortgage default. The opening bout of the pay-per-view bout is the lone fight that features two world-class boxers: a 130-pound fight between fringe contenders Andy Vences and Jono Carroll. Evander Holyfield lost his $20 million mansion because he couldn't afford the upkeep Evander Holyfield spent a huge portion of his fortune building a mansion - only to be left with no. Holyfield has 11 children with six different women, and provides ongoing financial support to them, news.com.au reported. The sport of boxing is one of the most lucrative in the world, with the ability to produce some of the best fighters of all time. If Triller, along with the fighters, decide the event won't be registered as an official bout that is listed on BoxRec (boxing's official record keeper), the promoter has until right before the bell rings to notify the commission, per the FAC. BBCestimates the Holyfield made nearly a quarter of a billion dollars over the course of his boxing career. by His career took off after he won the IBF world title in 1996. More families mean more money, and Holyfield has several families. TV News / Jon Galt. On the boxer severity index, created by former Nevada commission chief executive director Dr. Flip Homansky -- and utilized by the Association of Boxing Commissions -- Holyfield registers a plus-4. Now, 57-year-old former champ Evander Holyfieldlives in a two-bedroom apartment and admits the vast majority ofthose millions aregone since his final professional bout in 2011. Fans are concerned for Evander Holyfield, who seemed to struggle on the ads during the open workouts for the media. Rick Ross Buys Insane 109-Room Mansion From Evander Holyfield, Boxing Legend, TV Judge Mills Lane Dead At 85, Former NFL Defensive End Greg Hardy Beats Hasim Rahman Jr. With Big Knockdown In Professional Boxing Match Without Training, Bare Knuckle Fighter Nathan Decastro Looks Like The Elephant Man After Bloody Hits To Left Eye, Jake Paul Offers Draymond Green $10 Million For Boxing Match. We want to hear from you. Boxing pound-for-pound rankings: Bivol keeps winning and moving up; Haney earns top 10 spot, A megafight is set: Here's what's at stake when Gervonta Davis faces Ryan Garcia in April, Gervonta Davis' arrest history: Timeline of abuse and hit-and-run charges and denials, Oscar De La Hoya tested positive for COVID, Real or Not: Evander Holyfield shouldn't be in a ring; Jake Paul should face a real boxer next, De La Hoya tests positive; Belfort-Holyfield on tap, When Floyd Mayweather-Logan Paul met in an exhibition match in June. His fight against Vitor Belfort and the brand deals he will secure from it will help boost his net worth. While the payout made this fight a big deal, it isn't what made it the most famous and well-known fight in history. "When you don't have others looking out for you, everybody's taking something for themself. However, in a sport as lucrative as boxing, many fighters lose their career earnings in the blink of an eye. Evander Holyfield by TKO, 1: . Florida, on the other hand, saw no issue. In the photo below, therap mogul is seen lording over the grand double-staircase in the mansions foyer. 58-year-old Evander Holyfield will take on Vitor The Phenom Belfort. Florida -- a Triller Fight Club pay-per-view -- after the California State Athletic . According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. For a long time, Evander Holyfield, four time heavyweight champ, had the funds to live a lavish lifestyle. Mansion has been the ideal location for two movies, Superfly and Coming 2 America. A post shared by Evander Holyfield (@evanderholyfield). For one, he's making multiple millions, sources told ESPN. The monthly electricity bill for the mansion is estimated at $17,000, while the cost of year-round upkeep is said to be in the neighborhood of $1 million. One of his six sons is Elijah Esaias Holyfield, a footballerrepresenting the Carolina Panthers in the NFL. Full Spectrum Services LLP 2022 | All Rights Reserved. Holyfield won Olympic bronze at the 1984 Games as a light heavyweight before he became the greatest cruiserweight champion in boxing history. The property includes a 16,000-square-foot main house, a 12,000-square-foot guest house, a 12-stall barn, and a five-acre lake. Ross, the Lemon Pepper Lord of Lyrics, has a net worth estimated at $40 million. Tour Evander Holyfield's Former Mansion. During his career Holyfield earned an estimated $230 million in. The folks at Redfin have confirmed that rapper Rick Ross has purchased the monstrous former Fayetteville home of boxer Evander "Real Deal" Holyfield and that he got it for a relative steal . It was the only fight in his career that brought in over $100 million on its own, the infamous Holyfield vs. Tyson II fight. "We've spoken to Holyfield and Vitor and the commission; no matter what, this will be scored as a pro fight, there will be a clear winner and it will be treated with pro rules.". Throughout his career, Holyfield made bank, but that's what you'd expect from a fighter of his caliber. Sources told ESPN Holyfield has expressed apprehension about the fight counting toward his official record. Celebrity Net Worth notes that Holyfield earned a whopping $230 million from fight purses alone. He also had to pay massive penalties to the IRS over previous non-payment when his yearly earnings were still in the tens of millions. The home had 109 rooms, a gigantic 135 seat theater, a 100 seat dining room, and a bowling alley. "All boxers on this card have successfully met all requirements to be licensed by the Florida Athletic Commission," a spokesperson for the commission said. Outkick is a company that produces videos. He had to. It was sold at a knockdown price of US$7.5m to keep the banks off his back, The Independent reported in 2012. Women's boxing pound-for-pound rankings: Did Baumgardner do enough to overtake Serrano? Evander Holyfield's amazing 109-room Georgia home he sold to Rick Ross for 4.7m boasts bowling alley, theatre and pool https://t.co . How Much Did Evander Holyfield Pay For His House. Holyfieldinsists he can turn his financial situation around for the sake of his 11 children. A passionate learner in the world of professional writing, and an ardent Manchester United fan. Evander Holyfield is one of those fighters. If the commission does not sanction the match, it is being reported that the event will still be held but itll be moved to Florida. In his prime, Holyfield was a massive draw which meant his per-fight revenue was extremely high. Holyfield also committed to paying for the private education of all three of his children. He ended up selling his mansion for less than half the amount he bought it for. Ward never competed anywhere near the top level, but there is Jack Johnson, the all-time great who became the first Black heavyweight champion in 1908. That was Belfort's fourth loss in six Octagon appearances. His third wife, Candi Calvana Smith, filed a restraining order against Holyfield in 2010 after he allegedly assaulted her in front of the children during a heated argument. Holyfield sold it to the bank in 12 under foreclosure lol.. How can a house regardless of price or size be insane? He reportedly paid $10 million for a 54,000-square-foot house in Fayetteville, Georgia, in 2014. So why did the 58-year-old retired boxer take on the fight on short notice knowing there was a good chance he would embarrass himself? The event never happened, leading to a contractual dispute between Holyfield and Triller. Round-by-Round coverage: How Tommy Fury vs. Jake Paul played out, Inside the creation of Jake Paul's 'Stardust Warriors' trunks, Women's boxing divisional rankings: Thorslund, Fundora solidify spots after dominant performances, Divisional rankings: Matias, Jack make big moves after impressive wins. How did Evander Holyfield lose his house . At his peak, Evander Holyfield had a reported net worth of $200 million. Jorge is a Miami native and lifelong Heat fan. Gambling related content is not intended for anyone under the age of 21. A Florida Athletic Commission spokesman told ESPN the commission "stands prepared to regulate the Evander Holyfield-Vitor Belfort bout as a sanctioned fight that would appear on both fighters' official boxing record. That's what a tough chin and hard hands will get you. A tiered movie theater seats a staggering total of 135, and a formal dining room area can accommodate 100 guests quite comfortably. Meanwhile, a federal lawsuit was filed two weeks ago in Utah seeking repayment of $550,000 in loans allegedly made to Holyfield to pay for landscaping on his 95-hectare estate. Fighters 154 pounds and above typically wear 10-ounce gloves. His total earnings were pinned down by the Independent as around $513 million, with nearly half of that coming from endorsements and other earnings outside of the ring. He lost the title to Mike Tyson in a second fight after winning it the first time. Rodriguez said Holyfield was let down by the people around him during his fighting days. According to Bleacher Report, the exhibition fight has been postponed and no new date has been announced, though there are tentative plans for it to be mid-June. "Real Deal" is best remembered, of course, for his legendary run at heavyweight, a resume that includes two wins over Mike Tyson (including the infamous "Bite Fight"), a win over George Foreman and one win over Riddick Bowe in one of the most brutal title trilogies of all time. "He did not have a team to protect his money while he was making millions, and today there is no one in his corner to help him establish his blue-chip brand," Rodriguez told CNBC. Everything you need to know about Evander Holyfield vs. Vitor Belfort, The triumph of Michael B. Jordan and Jonathan Majors in Creed III. Fournier, a part-time boxer, scored a knockout of musical artist Reykon in April on the Jake Paul-Ben Askren undercard. Today, Evander Holyfields reported net worth is $1 million, a fraction of what it was at his peak.

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