California, which has more stringent regulations, declined to license Holyfield to fight, whether it was in an exhibition or an official fight. He defaulted on his mortgage at exactly the wrong time. Lets go inside Rick Ross stunning home in New York. 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. 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. 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. A legal notice from Washington Mutual Bank in June of 2008 revealed that the 54,000 . Got a confidential news tip? "This is the first time my kids ever told me 'Dad, you don't need to be getting hit,'" Holyfield said. First, an ongoing divorce settlement wrapped up after he bought his home. 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. The mansion has become a significant example of Georgian real estate due to its unparalleled features and recreational facilities. How did Evander Holyfield lose his house . We want to hear from you. Holyfield threw a left hook and Belfort stepped inside with. All Rights Reserved. Holyfield also committed to paying for his three childrens private educations as a personal commitment. 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. A passionate learner in the world of professional writing, and an ardent Manchester United fan. 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. BroBible is the #1 place on the internet for the very best content from the worlds of sports, culture, gear, high tech, and more. Evander Holyfield is one of those fighters. The home had 109 rooms, a gigantic 135 seat theater, a 100 seat dining room, and a bowling alley. He has been covering the NBA, MLB and NFL professionally for almost 10 years, specializing in digital media. Other financial losses came from Evander Holyfield's home life. Evander Holyfield will face Vitor Belfort on 11 September at the Seminole Hard Rock Casino in Hollywood, Florida. READ MORE: *Chisora looking past Parker *Another win for Fa *SBW fight on hold. 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. "We have approved this as a full pro bout," the commission said. Everything you need to know about Evander Holyfield vs. Vitor Belfort, The triumph of Michael B. Jordan and Jonathan Majors in Creed III. His record: 15-40-3, 1 KO. 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. The home, which is located in the posh Buckhead neighborhood, is 16,000 square feet and features seven bedrooms, eight bathrooms, and a four-car garage. Given the FAC's decision, Holyfield has completed this evaluation. Silva upset Julio Cesar Chavez Jr. this summer in Mexico, and now fights Ortiz, who will be making his boxing debut. 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. Fournier, a part-time boxer, scored a knockout of musical artist Reykon in April on the Jake Paul-Ben Askren undercard. "As of now the fighters are comfortable with how it stands and we're going to revisit this over the next couple of days to decide. These Sports Stars Blew Millions. You Won't Believe How Known as the 'Real Deal', Holyfieldalso famously had part of his ear bitten off by Tyson during their title fight in 1997. Evander Holyfield's loss is Rick Ross' gain. Ross, the Lemon Pepper Lord of Lyrics, has a net worth estimated at $40 million. Evander Holyfield apparently got paid very well for his two minutes inside the ring against Vitor Belfort. Fighters 154 pounds and above typically wear 10-ounce gloves. How did Evander Holyfield lose all his money? | News | Fans Share Dade County's finest Rick Ross has officially purchased a 109-room mansion from boxing great Evander Holyfield. For a long time, Evander Holyfield, four time heavyweight champ, had the funds to live a lavish lifestyle. Evander Holyfield to pay $36,000 a year in child support According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. Holyfield has 11 children with six different women, and provides ongoing financial support to them, news.com.au reported. All rights reserved. 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. "When you don't have others looking out for you, everybody's taking something for themself. IBA prez: Russia, Belarus boxers should compete, Benn: WBC done me a 'disservice' with egg ruling, WBO orders Crawford title defense vs. Rocha, Serrano injured; rematch with Taylor postponed, Fury wins split decision to hand Paul first loss, Davis-Garcia bout finalized, moved to April 22, Sources: Taylor, Lopez agree to June 10 title bout. Jorge is a Miami native and lifelong Heat fan. Sources told ESPN Holyfield has expressed apprehension about the fight counting toward his official record. June 6, 2021, 5:50 pmupdated June 7, 2021, 6:18 am B/R's combat sports team was in the house for "Triller . Holyfield won Olympic bronze at the 1984 Games as a light heavyweight before he became the greatest cruiserweight champion in boxing history. When the housing crisis hit in 2008, Holyfield had to sell his house for less than half of what he paid for it. https://t.co/6f7eB955Xr, Mark Ortega (@MarkEOrtega) September 12, 2021, Brobible sports editor. "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. Two heavyweight legends Evander Holyfield and Mike Tyson, as Holyfield is inducted into the Nevada Boxing Hall of Fame in 2014. The full extent of Holyfield's financial woes were revealed on CNBC'sBack in the Game, where baseball legend and financial success Alex Rodriguez attempts to help former athletes fight out of money troubles. "If he had the right team behind him, he would have never lost his fortune.". 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. Dan Rafael (@DanRafael1) September 12, 2021. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER. At Evander Holyfields absolute peak and accounting for spending, he was likely worth just over $200 million total at his peak according to Networth Buzz. It remains to be seen how safe it is for a 58-year-old to compete. However, he lost all his money almost as quickly as he earned it. DISCLAIMER: This site is 100% for entertainment purposes only and does not involve real money betting. Holyfield owed the IRS twice as much money, with his plight hitting the headlines . Holyfield also committed to paying for the private education of all three of his children. 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? 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. When they were set to fight in Los Angeles on the same date, the fight was an exhibition. More so, he's still chasing a lucrative third fight with Tyson. 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. The Holyfield vs. Belfort live stream will be hosted by Fite TV, which is offering access to the fight for $50. "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. Ross Rolls Royce Phantom Drophead Coupe, which is housed in the massive garage, is the ideal vehicle for the massive garage. Holyfield took out a mortgage for $14 million on the home. One of heavyweight boxing's biggest names estimates he earned US$200 million (NZ$312m) from his 26 years in the ring. It was sold at a knockdown price of US$7.5m to keep the banks off his back, The Independent reported in 2012. The Reason Evander Holyfield Lost His Money. 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. Evander Holyfield Apparently Made $5-6 Million For Getting - BroBible arrivals in the venue shortly after 6 p.m.an hour before the pay-per-view broadcast got started. While the payout made this fight a big deal, it isn't what made it the most famous and well-known fight in history. Evander Holyfield by TKO, 1: . How Much Did Evander Holyfield Pay For His House. ", "It's kind of hard to turn down a big sum of something when you know you can do it. 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. In 2008, when the global housing market crashed and dragged most of the worlds economy down with it, Holyfield needed to sell his home. Mike Tyson chomps on the ear of Evander Holyfield in the third round of their WBA heavyweight bout in Las Vegas in 1997. Evander Holyfield reigned supreme as both a cruiserweight and a heavyweight champion. However, in a sport as lucrative as boxing, many fighters lose their career earnings in the blink of an eye. A tiered movie theater seats a staggering total of 135, and a formal dining room area can accommodate 100 guests quite comfortably. The mansion, which Holyfield had originally put on the market for $10 million, had been foreclosed on in 2008. Today, Evander Holyfields reported net worth is $1 million, a fraction of what it was at his peak. They did not release the earnings of these boxers to the public. Basically, the boxer had more kids and ex-wives than he could reasonably afford. Boxing is one of the most lucrative sports around for the handful of fighters capable of making their way to the top. 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. In 2014, a 54,000 square-foot mansion purchased by music mogul and entrepreneur Rick Ross was reported to have sold for $10 million. The Reason Evander Holyfield Lost His Money - Grunge.com His total earnings were around half a million dollars, including brand deals. 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. Ronda Rousey Painful Health Rumor Revealed, Donald Trump Jr. . Holyfield, boxing's only four-time world heavyweight champion, formally announced his retirement from the ring last year, at the age of 51. football player for Diego Juniors FC. Copyright 2008-2023 BroBible. Published: January 6 2014 22:05. De La Hoya-Belfort was set to take place at Staples Center in Los Angeles. And he seems happy again. But today, he only holds a small fraction of his former net worth. "Iron" Mike's November exhibition with Roy Jones Jr. -- a Triller event -- was a massive success. 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. His liabilities from his period bloomed into various directions as his creditors came knocking. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. Holyfield competed in boxing till the age of 48 years, with his last professional bout coming against Brian Nielsen back in May of 2011. Was it worth his pride? The home, which Holyfield lost due to foreclosure a year prior, has a. And keeping such a massive space with so many amenities had many extra costs. How did Evander Holyfield lose his house? - Sportskeeda That was Belfort's fourth loss in six Octagon appearances. He had to. Holyfield (44-10-2, 29 KOs) accepted the Belfort assignment on just eight days' notice after Oscar De La Hoya tested positive for COVID. And that was in 2006, a first-round KO victory in his native Brazil. His expenses kept his net worth somewhat depressed despite all that revenue. 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. UFC legends Anderson Silva and Tito Ortiz meet in a professional boxing match in the co-feature. How Did the 1976 & 1984 USA Olympians Do As Pro's? 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. A dedicated pro wrestling follower for more than a decade who feels fortunate to express the love for the art through writing. In the famed ear-damaging fight against Tyson alone, Holyfield brought home a massive $35 million, according to Atlanta Magazine, which is several times more than most Americans will make in their lifetime. From 1984 to 1987 and 1990 to 1991, he was a three-time world heavyweight champion. How did Evander Holyfield lose all his money? Evander Holyfield had to sell 109-room mansion to Rick Ross after His final professional fight was on July 14, 1968, at the age of 48. Evander Holyfield was once thought to have earned more than $230 million in a single fight purse. "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. The property is located in Atlanta, Georgia and priced at $5.8 million. 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. Celebrity Net Worth notes that Holyfield earned a whopping $230 million from fight purses alone.