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. The whole thing's about protection. The home had 109 rooms, a gigantic 135 seat theater, a 100 seat dining room, and a bowling alley. 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. 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? Copyright 2008-2023 BroBible. A post shared by Evander Holyfield (@evanderholyfield). A legal notice from Washington Mutual Bank in June of 2008 revealed that the 54,000 . At Evander Holyfield's absolute peak and accounting for spending, he was likely worth just over $200 million total at his peak according to Networth Buzz. He had extraordinary longevity, sticking it out for 26 years before retiring at 51 years old. He was a champion whose professional career endured from 1984 until his final fight against Sherman Williams in 2011, when Holyfield was 48 years old. . "All I know is it's a fight and they got the rules. California, which has more stringent regulations, declined to license Holyfield to fight, whether it was in an exhibition or an official fight. In 1998, the first world heavyweight title was awarded. Fighters 154 pounds and above typically wear 10-ounce gloves. Fighting Lopez creates a better opportunity for Taylor, but can he beat him? Holyfield has 11 children from five different mothers, according to the Independent. "All boxers on this card have successfully met all requirements to be licensed by the Florida Athletic Commission," a spokesperson for the commission said. The Reason Evander Holyfield Lost His Money. After all, the perils of riches lay mostly in how they're spent. 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. Boxing matches featuring men are always three-minute rounds, and at the top level, are contested over 10 or 12 rounds. Data is a real-time snapshot *Data is delayed at least 15 minutes. 58-year-old man dies at start of mountain bike race, Teen boys charged with murder over killing of driver in Auckland, What the alcohol industry doesn't want you to know, The Jugglenaut: How childcare became a for-profit game, Christopher Luxon promises childcare rebates for any family earning less than $180,000, Homeowner says banks offering 4.99% under the table is a 'market failure', Person who died after incident in Auckland's Beach Haven named, Guyon Espiner's last drink: 'Probably wine, but I was too drunk to remember', Disappointment and tequila: How sporting power couple Dion Nash and Bernice Mene met, Wallabies star's NZ$1.6m World Cup gamble after bar brawl shuts down Japanese club. The mansion, which Holyfield had originally put on the market for $10 million, had been foreclosed on in 2008. . 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. The property includes a basketball court, a tennis court, a gym, a pool and a home theater. he failed to pay back more than a half . In total, Holyfield married three women and was divorced twice. Catch the sneak peek, and don't miss the series premiere of "Back in the Game" Wednesday, November 6 at 10P ET on CNBC. The property is located in Atlanta, Georgia and priced at $5.8 million. "This is the first time my kids ever told me 'Dad, you don't need to be getting hit,'" Holyfield said. The publication likewise says he wasn't very good at the whole gambling thing, and Holyfield went bankrupt. He is currently Meanwhile, Vitor Belfort took home a whopping $400,000 for his appearance against Evander Holyfield. In his prime, Holyfield was a massive draw which meant his per-fight revenue was extremely high. 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. Holyfield and Belfort will compete at heavyweight, the unlimited weight class. 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. He was 13-0 when he lost to WBC World Light champ Jim Watt, 36-7, in Glasgow, Scotland, in June of 1980. Holyfield also went through three divorces. Full Spectrum Services LLP 2022 | All Rights Reserved. It ended up going for half of what he bought it for. The Holyfield vs. Belfort live stream will be hosted by Fite TV, which is offering access to the fight for $50. Due to the immense difficulty and bodily strain of fighting in the first place, fighters earnings are often on the scale of hundreds of millions by the time they wrap up their careers. Today, Evander Holyfields reported net worth is $1 million, a fraction of what it was at his peak. By: Holly Aguirre. Regardless of age, every fighter requires an ophthalmic exam within the last 12 months and a physical exam. Evander Holyfields amazing 109-room Georgia home he sold to Rick Ross for 4.7m boasts bowling alley, theatre and pool https://t.co/L1SPTwOPsO, According to the Daily Mail, the 38-year-old rapper purchased the home which Evander had to sell to a bank at a public auction as part of a foreclosure for $7.5 million in 2012.. Mike Tyson chomps on the ear of Evander Holyfield in the third round of their WBA heavyweight bout in Las Vegas in 1997. His record: 15-40-3, 1 KO. Evander Holyfield will return to the ring Saturday against a legendary mixed martial artist, former UFC light heavyweight champion Vitor Belfort. 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? First, an ongoing divorce settlement wrapped up after he bought his home. "If he had the right team behind him, he would have never lost his fortune.". Even recouping proved to be a financial loss. After the fight, boxing insider Dan Rafael implied that Triller was paying Holyfield $5-6 million dollars to fight Belfort on a weeks notice. Dan saying Holyfield earned 5-6 million dollars tonight. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER. Holyfield sold it to the bank in 12 under foreclosure lol.. How can a house regardless of price or size be insane? Three divorce settlements quickly slashed his net worth in half, along with child support payments to eleven children by six different women. After claiming his first world title in 1986, the boxing legend won 44 bouts in a stellar career, including two victories over Mike Tyson and other famous wins against George Foreman, Larry Holmes and Buster Douglas. 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. Copyright 2023 Endgame360 Inc. All Rights Reserved. The companys purchase of the Holyfield property shows its commitment to investing in distressed assets. Even if this bout proceeds as an official fight, Holyfield -- one month shy of his 59th birthday -- won't be the oldest boxer to partake in a professional fight. According to a lawsuit Evander Holyfield recently had with Triller, hell be paid $5 million for the fight. "At least I'm fighting somebody that I know I can protect myself [against]. Plus you gotta understand, they saying fight somebody who boxing ain't his thing.". ET. Evander Holyfield reigned supreme as both a cruiserweight and a heavyweight champion. You are agreeing to OutKick's Terms of Use and Privacy Policy, but don't worry we don't spam. 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. According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. However, it's not a foregone conclusion this will be an official bout. Dade Countys finest Rick Ross has officially purchased a 109-room mansion from boxing great Evander Holyfield. We want to hear from you. He finished his career at 53 years old with five losses in his final seven bouts. How did Evander Holyfield lose all his money? On Saturday night, Holyfield got absolutely demolished in his fight against the former UFC champion which ended in the first round. Evander Holyfield is one of those fighters. BroBible is the #1 place on the internet for the very best content from the worlds of sports, culture, gear, high tech, and more. 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. Holyfield told the programme: "It is hard to fall down, and I kind of feel like everything is too late. Rapper Rick Ross purchased the home in 2014. Today that would be about $52,400,000. Outkick is a company that produces videos. Alejandro Avila Already a heavy hitter in the rap game, the hip-hop artist known as Rick Ross has apparently moved on up to the heavyweight class when it comes to mansions. Roman Reigns & Usos Removed From Smackdown? Evander Holyfield spent a huge portion of his fortune building a mansion only to be left with no funds to maintain it. Even though The Real Deal has been training for a comeback fight for quite some time, fighting Vitor Belfort will not be a simple task, even for prime Holyfield. However, Holyfield-Belfort will be staged at the Hard Rock in Hollywood, Florida -- a Triller Fight Club pay-per-view -- after the California State Athletic Commission refused to license the 58-year-old. He lost by split decision to WBC champ Edwin Rosario, 23-0, in June 1984. 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. It was the only fight in his career that brought in over $100 million on its own, the infamous Holyfield vs. Tyson II fight. In comparison, it would cost Holyfield approximately $1 million per year to maintain its natural gasification system, with an electricity bill of around $16,000 per month. Videos by OutKick. Holyfield, who retired from boxing in 2000, is now focused on his property and training business. Holyfield once claimed the home cost more than $1 million annually to maintain with an electric bill reportedly costing $17,000 a month. . Celebrity Net Worth notes that Holyfield earned a whopping $230 million from fight purses alone. 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 . "[I want to]pass this onto my kids, where they won't have to worry about the same thing," Holyfieldtold CNBC. "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.". He ended up selling his mansion for less than half the amount he bought it for. All Rights Reserved. 9/9/2021 1:00 AM PT. During his peak, Evander The Real Deal Holyfield was earning hundreds of millions of dollars. One of heavyweight boxing's biggest names estimates he earned US$200 million (NZ$312m) from his 26 years in the ring. However, after their famous second fight, Evander Holyfield earned more than $30 million in compensation. Vitor Belforts pressure proved to be too much for Evander Holyfield. Evander Holyfield is one of those fighters. His wealth was quickly slashed in two, and he agreed to $36,000 in yearly payments for child support. 2023 CNBC LLC. "If Holyfield doesn't want this to go on his BoxRec due to his age, we'll allow him to make the decision and still follow all the other rules," Triller co-founder Ryan Kavanaugh told ESPN. 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. "We have approved this as a full pro bout," the commission said. Allan Binoy is a Combat Sports Author at EssentiallySports. Holyfield also committed to paying for his three childrens private educations as a personal commitment. The Biltmore House Americas Largest Private Home, Making The Most Informed Home Purchase: Understanding The Benefits Of Cash Sales And Home Appraisals, A Guide To Accurately Appraising A Home: Tips For Buyers And Sellers, Maximizing Profit When Flipping A House: How Appraisal Value Can Make Or Break A Flip. 58-year-old Evander Holyfield will take on Vitor The Phenom Belfort. 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. 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. It has purchased foreclosed properties in recent years in order to rehabilitate them and sell them to new buyers. Only he knows. According to Rozay, the 105-acre home, which is located on land, has become a tourist destination. When he lost to Mike Tyson in 2000, Holyfield was convicted of cocaine possession and beaten by his second wife. The event never happened, leading to a contractual dispute between Holyfield and Triller. Does Rick Ross own a multi-million dollar mansion in Georgia? 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. DISCLAIMER: This site is 100% for entertainment purposes only and does not involve real money betting. 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. But his enormous mansion turned out to be a much larger drain on his resources. Other failed business ventures includeda record label which cost Holyfield$3.1million, a restaurant business which cost over $10m and other products bearing his name including BBQ sauce, a kitchen grill and a fire extinguisher. Known as the 'Real Deal', Holyfieldalso famously had part of his ear bitten off by Tyson during their title fight in 1997. But why fight at all if you're Holyfield? Holyfields 109-room home in Georgia is listed for sale for $5.7 million, with a bowling alley, theater, and pool included. 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. arrivals in the venue shortly after 6 p.m.an hour before the pay-per-view broadcast got started. Here's how, You sense the market is desperately hoping the Fed is done hiking interest rates, says Peter Boockvar. He recently fought Mike Tyson back in May 2021, and now the 58-year-old Holyfield will be returning to the ring once more to defy age and deliver more knockouts. It remains to be seen how safe it is for a 58-year-old to compete. 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. Dan Rafael (@DanRafael1) September 12, 2021. He reportedly paid $10 million for a 54,000-square-foot house in Fayetteville, Georgia, in 2014. https://t.co/6f7eB955Xr, Mark Ortega (@MarkEOrtega) September 12, 2021, Brobible sports editor. 3 Comments. To demonstrate its commitment to investing in distressed assets, the bank purchased this property. The lawsuit was for a mix of back child support and unpaid maintenance. It reports come after it was found that Oscar De La Hoya has tested positive for . 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. A dedicated pro wrestling follower for more than a decade who feels fortunate to express the love for the art through writing. football player for Diego Juniors FC. "It's a fight, the rules are the same," Holyfield said when asked if it would be an exhibition. Stop the dumbass TMZ headlines please! However, in a sport as lucrative as boxing, many fighters lose their career earnings in the blink of an eye. At 58 years old, Evander Holyfield is returning to the boxing ring to face MMA legend Vitor Belfort. Women's boxing pound-for-pound rankings: Did Baumgardner do enough to overtake Serrano? In 1998, Evander Holyfield paid $11.4 million for a 114-acre estate in Fayetteville, Georgia. Sign up for free newsletters and get more CNBC delivered to your inbox. Belfort was slated to fight De La Hoya at a catchweight of 190 pounds, so now he doesn't have to worry about cutting weight. The deal also required Holyfield to fund his sons future education by filling an account with $100,000. What happened? How Much Did Evander Holyfield Pay For His House. 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. I do what I have to do.". Holyfield will fight Kevin McBride in an exhibition match that has yet to be rescheduled. Evander Holyfield vs. Vitor Belfort -- Round 1: Holyfield opened up with a few jabs as Belfort circled with his guard up high. When you examine this particular event, the confusion is even greater. Smith received cash and property from the 2012 divorce, including child and spousal support. In his prime, Evander Holyfield made millions of dollars each fight, with his highest-earning purses coming from the Iron Mike Tyson fights. Even recouping proved to be a financial loss. 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. 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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. Mansion has been the ideal location for two movies, Superfly and Coming 2 America. His liabilities from his period bloomed into various directions as his creditors came knocking. Another son, 22-year-old Evan, just made his professional boxing debut,knocking out opponent Nick Winstead in only 16 seconds. Holyfield owed the IRS twice as much money, with his plight hitting the headlines . His fight against Vitor Belfort and the brand deals he will secure from it will help boost his net worth. Evander Holyfield was once thought to have earned more than $230 million in a single fight purse. 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. . That distinction belongs to Steve Ward, whose final fight came months before his 60th birthday. The divorces were certainly costly, but not nearly as expensive as his obligations to his children. Holyfield threw a left hook and Belfort stepped inside with. As you can probably guess, Evanders mega-manse failed to sell at auction and made its way back onto the market in December for $6.875 million. 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. The child support is really where the boxer's family debt began to get out of hand. TV News / Jon Galt. The home was said by Daily Mailto cost Holyfield a solid $1 million per year, and that's just in taxes and upkeep. Holyfield reportedly spent an additional $1.5 million on furnishings and decor for the home.