Former heavyweight boxing champ Evander "Real Deal" Holyfield appears to be struggling financially. With his home facing foreclosure, child support payments in arrears and even owing a landscaping company a huge bill, it's looking like hard times for Holyfield. Evander Holyfield won the Heavyweight boxing title after defeating Mike Tyson who bit him on the ear.
Losing your crib is no joke! Sports Illustrated reports, a legal notice ran in a local Atlanta newspaper announcing that his estimated $10 million estate in Fayette County, Georgia was in jeopardy and was set to be auctioned off by a bank next month on July 1st.
Holyfield spoke to the Atlanta Journal-Constitution Friday about the claims he's broke:
"I'm not broke. I'm just not liquid. I do feel kind of sad because things have always been positive and now everybody wants to jump on me like I'm the worst person in the world and I went out and blew all my money."
Holyfield estate no longer up for auction:
On Friday, Philip Hasty, an attorney for Shapiro & Swertfeger in Atlanta, the law firm representing Holyfield's lending company, confirmed that the estate is no longer up for auction. Hasty said that the change happened Thursday morning but he declined to comment further.
Holyfield would not elaborate on the foreclosure listing but said "everything is alright with the house now."
While we're uncertain of the amount of the mortgage payment for the 54,000-square-foot home, we believe that it must be huge. Come on, this place is a palace complete with its 109 rooms, including 17 bathrooms, three kitchens and a bowling alley. This mansion -- located on Evander Holyfield Highway -- brings new meaning to the expression "my block."
- MO MONEY MO PROBLEMS: He built his dream home in 1997 and its been a drain ever since. Back in '97 he said it cost $1.2 million a year just to live in — as in water, electricity and landscaping.
Just when you thought that the former 4-time heavyweight champ couldn't be hit with a deeper blow, TMZ reports that even Holyfield's landscaper is suing him for $550,000 that he owes.
The 45-year-old Holyfield is up against the ropes with a whole lot of mouths to feed. The mother of 1 of his 11 children, Toi Irvin, says he has fallen as much as 2 months behind in his child-support payments. The ex-champ's baby mama has filed court papers and was told by his reps the checks totaling $6,000 for May and June aren't in the mail.
- FAMILY GUY: Holyfield has been married 3 times, has 11 children, and it's believed his child support payments run at least $500,000 annually.
- He has 3 children with his 1st wife, Paulette, from whom he has been divorced since 1991. He has 1 child with his 2nd wife, Janice, from whom he has been divorced since 2000. Evander fathered 2 children out of wedlock by 2 different women while married to his 2nd wife, Dr. Janice Holyfield. As well as 5 other children born out of wedlock to four women.
- The divorce from his 2nd wife, Janice, cost him big time. The couple wed out of the blue in 1996 during the time he pulled in the $107 million with no prenuptial agreement.
Randy Kessler, Irvin's attorney said, "When people bring up foreclosure and bankruptcy, I'm not that concerned. What that does is free up money for child support. If they foreclose on his house, that means he doesn't have to pay the mortgage. If he goes bankrupt, that frees up some other obligations.
Kessler sees the situation working in his client's favor and said, "A $500,000 lawsuit, $10 million for his property, those are big deals. Child support of $6,000? The light bill is probably $6,000 at that place.
Holyfield has made millions during his 24-year boxing career. So, where's the doe he stacked during his career you ask? We have no idea but it sure would come in handy right about now.
- Holyfield has grossed over $248 million in ring purses during his 24 year boxing career.
- During one six-fight stretch (1996-1999), he earned $107 million.
- His income has dropped considerably. He has fought only six times in the past 56 months. The last significant payday was for $5 million in 2003 when he lost to James Toney.
His last fight was on Oct. 13, 2007 and he has been trying to lock down another heavyweight championship fight. Holyfield's bad business deals, as sizable investments in a recording label and a Christian television network both failed. The financial woes may appear to be the reason why he has resisted retiring and is still willing to step back into the boxing ring at age 45.
According to AJC.com, The "Real Deal" Holyfield claims that he's competing for titles, not paychecks:
“This [money problems] isn’t the reason I’m fighting,” he said. “I’ve been telling people that my goal was to be undisputed champion. I told them in 1992. I told them in 1996, after I beat Tyson. People ask, ‘Why fight? Why, why, why?’ But that’s always been me. That’s what made me and allowed me to be my very best. I always set goals. This is my goal. I haven’t changed. My character hasn’t changed.”
He's not alone. Marion Jones, Michael Jackson, Jose Canseco, Ed McMahon and Latrell Sprewell are a few celebrities in foreclosure that have been in the news recently.
