Sign up for free newsletters and get more CNBC delivered to your inbox. He had to. Holyfield reportedly spent an additional $1.5 million on furnishings and decor for the home. . However, in a sport as lucrative as boxing, many fighters lose their career earnings in the blink of an eye. If you or someone you know has a gambling problem and wants help, call 1-800-GAMBLER. In 2008, when the global housing market crashed and dragged most of the worlds economy down with it, Holyfield needed to sell his home. 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. In 1998, Holyfield paid $8.1 million for a 54,000-square-foot mansion in Atlanta. The true price was even higher, however. The publication likewise says he wasn't very good at the whole gambling thing, and Holyfield went bankrupt. Published: January 6 2014 22:05. football player for Diego Juniors FC. However, a story on Rolling Out revealed that one of the rappers contemporaries, Meek Mill, posted a picture of his friends purchase on Instagram. Evander Holyfield and Russian giant Nikolai Valuev fight in Zurich, Switzerland in 2008. Built in 1994, the estate was originally the home of heavyweight champion Evander Holyfield. For one, he's making multiple millions, sources told ESPN. Even recouping proved to be a financial loss. He spent $5.8 million on the Georgia estate he purchased from Evander Holyfield, which included 109 rooms. Holyfield was evicted from his 109-room Atlanta mansion, owing US$14m in mortgage repayments. 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. Lets go inside Rick Ross stunning home in New York. In his prime, Evander Holyfield made millions of dollars each fight, with his highest-earning purses coming from the Iron Mike Tyson fights. Dade Countys finest Rick Ross has officially purchased a 109-room mansion from boxing great Evander Holyfield. "If he had the right team behind him, he would have never lost his fortune.". The $230m he earned over a. In addition to an in-house bowling alley, the home is about as close to a sportsmans paradise as one will find. They did not release the earnings of these boxers to the public. In 1998, Evander Holyfield paid $11.4 million for a 114-acre estate in Fayetteville, Georgia. 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. However, after their famous second fight, Evander Holyfield earned more than $30 million in compensation. Holyfield and Belfort will compete at heavyweight, the unlimited weight class. He was 13-0 when he lost to WBC World Light champ Jim Watt, 36-7, in Glasgow, Scotland, in June of 1980. READ MORE: *Chisora looking past Parker *Another win for Fa *SBW fight on hold. "If Triller and the fighters elect to not have this go on BoxRec, we will honor that request, but pro boxing rules will still apply with judges, scoring and a clear winner just as if it were a pro bout.". What happened? The lawsuit was for a mix of back child support and unpaid maintenance. "It's a fight, the rules are the same," Holyfield said when asked if it would be an exhibition. Full Spectrum Services LLP 2022 | All Rights Reserved. Just like Mike Tyson, Evander Holyfield somehow managed to blow through a fortune that at one time peaked above $200 million. 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? he failed to pay back more than a half . Holyfield also committed to paying for the private education of all three of his children. The property includes a basketball court, a tennis court, a gym, a pool and a home theater. Rodriguez said Holyfield was let down by the people around him during his fighting days. Evander Holyfield apparently got paid very well for his two minutes inside the ring against Vitor Belfort. 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's bragging about making an outrageous amount of cash for the gig, and his deal has a . That distinction belongs to Steve Ward, whose final fight came months before his 60th birthday. How Much Did Evander Holyfield Pay For His House. The Reason Evander Holyfield Lost His Money. TV News / Jon Galt. Oscar de la Hoya Sad Hospitalization Video Leaks. Fighters 154 pounds and above typically wear 10-ounce gloves. 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. Holyfield won Olympic bronze at the 1984 Games as a light heavyweight before he became the greatest cruiserweight champion in boxing history. Silva upset Julio Cesar Chavez Jr. this summer in Mexico, and now fights Ortiz, who will be making his boxing debut. Yes, Holyfield is 58. All rights reserved. Mansion has been the ideal location for two movies, Superfly and Coming 2 America. Money, of course. Holyfield competed in boxing till the age of 48 years, with his last professional bout coming against Brian Nielsen back in May of 2011. However, he lost all his money almost as quickly as he earned it. 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. 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. His spending habits extended beyond simple overspending and into the high-adrenaline world of risk-taking thrills. Everything you need to know about Evander Holyfield vs. Vitor Belfort, The triumph of Michael B. Jordan and Jonathan Majors in Creed III. 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. How much Ross, aka Ricky Rozay, paid for the property is unclear, property records do not indicate that the home found at 794 Evander Holyfield Hwy has changed hands. At 58 years old, Evander Holyfield is returning to the boxing ring to face MMA legend Vitor Belfort. The child support is really where the boxer's family debt began to get out of hand. Boxing is one of the most lucrative sports around for the handful of fighters capable of making their way to the top. Earlier this year, Holyfield signed a deal with Triller to meet Kevin McBride in an exhibition bout on June 5 on the undercard of Teofimo Lopez-George Kambosos. def. Holyfield has 11 children with six different women, and provides ongoing financial support to them, news.com.au reported. The mansion has become a significant example of Georgian real estate due to its unparalleled features and recreational facilities. Evander Holyfield, a world boxing champion and the greatest boxer of all time, has sold a 109-room mansion to Dade Countys most famous rapper, Rick Ross. 3 Comments. Evander Holyfield in his prime was a massive draw in boxing. From 1984 to 1987 and 1990 to 1991, he was a three-time world heavyweight champion. The Englishman ended his career with seven consecutive losses, his last fight coming in December 2015. But today, he only holds a small fraction of his former net worth. Oscar de la Hoya Sad Hospitalization Video Leaks, Id like to announce that I will be making a comeback to the ring.I will be fighting in exhibition matches for a great cause.. Florida -- a Triller Fight Club pay-per-view -- after the California State Athletic . Evander Holyfield is one of those fighters. (via @OmarESPN) pic.twitter.com/wlR89gCjJC, ESPN Ringside (@ESPNRingside) September 12, 2021. Holyfield didn't . 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. 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. Florida, on the other hand, saw no issue. Here's how, You sense the market is desperately hoping the Fed is done hiking interest rates, says Peter Boockvar. Fighting Lopez creates a better opportunity for Taylor, but can he beat him? Holyfield was forced to sell his $10 million 109-room mansion for $7.5 million, which barely covered his debts. Data is a real-time snapshot *Data is delayed at least 15 minutes. Boxing matches featuring men are always three-minute rounds, and at the top level, are contested over 10 or 12 rounds. It has purchased foreclosed properties in recent years in order to rehabilitate them and sell them to new buyers. Holyfield sold it to the bank in 12 under foreclosure lol.. How can a house regardless of price or size be insane? UFC legends Anderson Silva and Tito Ortiz meet in a professional boxing match in the co-feature. 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 property, which is located in Atlanta, Georgia, is worth $5.8 million. And that was in 2006, a first-round KO victory in his native Brazil. 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 vs. Vitor Belfort -- Round 1: Holyfield opened up with a few jabs as Belfort circled with his guard up high. In the former heavyweight champ's case, the risk outweighed the rewards by a large margin. The 54,000 square-foot mansion is also the largest in Georgia. By: Holly Aguirre. According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. Evander Holyfield will return to the ring Saturday against a legendary mixed martial artist, former UFC light heavyweight champion Vitor Belfort. But after retirement, athletes across all sports regularly end up in financially compromised situations. 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. All Rights Reserved. De La Hoya-Belfort was set to take place at Staples Center in Los Angeles. Was it worth his pride? So, what does Rosss new home have to offer? You are agreeing to OutKick's Terms of Use and Privacy Policy, but don't worry we don't spam. One of heavyweight boxing's biggest names estimates he earned US$200 million (NZ$312m) from his 26 years in the ring. The wealthy businessman made a killing when he purchased the opulent estate for $5.8 million. The suit threatened Holyfield with jail time if he didn't pay up. A bowling alley, a movie theater, and a movie theatre are among the attractions at Rick Ross mansion, which has 109 rooms. 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. "[I want to]pass this onto my kids, where they won't have to worry about the same thing," Holyfieldtold CNBC. Holyfield (44-10-2, 29 KOs) accepted the Belfort assignment on just eight days' notice after Oscar De La Hoya tested positive for COVID. California, which has more stringent regulations, declined to license Holyfield to fight, whether it was in an exhibition or an official fight. 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. After all, the perils of riches lay mostly in how they're spent. In 1998, the first world heavyweight title was awarded. "When you don't have others looking out for you, everybody's taking something for themself. 58-year-old Evander Holyfield will take on Vitor The Phenom Belfort. I know all the things that's necessary to be safe. But why fight at all if you're Holyfield? 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. 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. 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. It reports come after it was found that Oscar De La Hoya has tested positive for . But blind opulence such as this does come at a cost, and Ross better come prepared to cut sizable monthly checks. "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.". "I've had no money to pay lawyers and had to fight on my own in court and that ain't easy." He finished his career at 53 years old with five losses in his final seven bouts. But there came a point when this former International Boxing Hall of Famer was losing more money than his fists could bring in. It was sold at a knockdown price of US$7.5m to keep the banks off his back, The Independent reported in 2012. 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. Lets dive into his earnings, his expenses, and his personal history to find out. He is currently Allan Binoy is a Combat Sports Author at EssentiallySports. 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. Evander Holyfield by TKO, 1: . The mansion has been among the sources of the boxer's. "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. In the photo below, therap mogul is seen lording over the grand double-staircase in the mansions foyer. 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. The fight will be contested over eight, two-minute rounds with 12-ounce gloves. Smith received cash and property from the 2012 divorce, including child and spousal support. "We have approved this as a full pro bout," the commission said. 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. In July of 1988 . The deal also required Holyfield to fund his sons future education by filling an account with $100,000. There is no reason why we cannot achieve this, according to 36-year-old Andy. Stop the dumbass TMZ headlines please! Holyfield took out a mortgage for $14 million on the home. 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 new estate comes with a number of incredible specs, including: Maintenance doesnt come cheap, with a near $1 million spent every year just to keep the lights on. The biggest monetary problem for Holyfield turned out to be the massive mansion that he bought for $10 million. 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. Here's why men die younger than women and how to fix it, China's shrinking population: What it means for the global economy, Oil companies made $200 billion in profits in 2022. In 2012, Holyfield lost the home after failing to pay $14 million in debt payments. Copyright 2008-2023 BroBible. We want to hear from you. 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. . As his net worth fell through the floor over just a couple years, the bills of a much wealthier person kept rolling in. To demonstrate its commitment to investing in distressed assets, the bank purchased this property. In his prime, Holyfield was a massive draw which meant his per-fight revenue was extremely high. ", "It's kind of hard to turn down a big sum of something when you know you can do it. "At least I'm fighting somebody that I know I can protect myself [against]. A Division of NBCUniversal. For a long time, Evander Holyfield, four time heavyweight champ, had the funds to live a lavish lifestyle. "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). Gambling related content is not intended for anyone under the age of 21. More so, he's still chasing a lucrative third fight with Tyson. His career took off after he won the IBF world title in 1996. The mansion, which Holyfield had originally put on the market for $10 million, had been foreclosed on in 2008. Known as the 'Real Deal', Holyfieldalso famously had part of his ear bitten off by Tyson during their title fight in 1997. 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. Dade County's finest Rick Ross has officially purchased a 109-room mansion from boxing great Evander Holyfield. How did Evander Holyfield lose his house . The whole thing's about protection. TMZ.com. "You are absolutely right," Holyfield said. At his peak, Evander Holyfield had a reported net worth of $200 million. Ross Rolls Royce Phantom Drophead Coupe, which is housed in the massive garage, is the ideal vehicle for the massive garage. "Man, they were stealing, just stealing, stealing.". His fight against Vitor Belfort and the brand deals he will secure from it will help boost his net worth. Basically, the boxer had more kids and ex-wives than he could reasonably afford. Plus you gotta understand, they saying fight somebody who boxing ain't his thing.". The home was said by Daily Mailto cost Holyfield a solid $1 million per year, and that's just in taxes and upkeep. 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. When they were set to fight in Los Angeles on the same date, the fight was an exhibition. Evander Holyfield reigned supreme as both a cruiserweight and a heavyweight champion. The 58-year-old Evander Holyfield has agreed to box Vitor Belfort on September 11 as per the reports of TMZ sports. Holyfield threw a left hook and Belfort stepped inside with. 9/9/2021 1:00 AM PT. 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. Allan is a semi-professional Today, his wealth is stabilized at around $500,000. 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. Evander Holyfield was forced to sell his 109-room mansion to rapper Rick Ross (Image: Getty Images) The 109-room mansion in his hometown of Atlanta was labelled as a monument to his success, but was auctioned in 2008 with Ross acquiring it for 4.2million. Another son, 22-year-old Evan, just made his professional boxing debut,knocking out opponent Nick Winstead in only 16 seconds. Fournier, a part-time boxer, scored a knockout of musical artist Reykon in April on the Jake Paul-Ben Askren undercard. https://t.co/6f7eB955Xr, Mark Ortega (@MarkEOrtega) September 12, 2021, Brobible sports editor. After suffering his first loss in boxing, what now for Jake Paul? A post shared by Evander Holyfield (@evanderholyfield). Evander Holyfield's loss is Rick Ross' gain. 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. And he remained on the hook for that massive mortgage. Three divorce settlements quickly slashed his net worth in half, along with child support payments to eleven children by six different women. 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 home had 109 rooms, a gigantic 135 seat theater, a 100 seat dining room, and a bowling alley. 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. Evander Holyfield will go down in history as the boxer that dethroned Mike Tyson. 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.. In February 2009, Evander Holyfields 54,000 square-foot estate in Fayetteville, Georgia, was sold at auction for $7.5 million to a group of investors. The event never happened, leading to a contractual dispute between Holyfield and Triller. Copyright 2023 Endgame360 Inc. All Rights Reserved. The pay-per-view begins at 8 p.m. Evander Holyfields net worth has been reduced by half as a result of his mortgage default. The divorces were certainly costly, but not nearly as expensive as his obligations to his children. Today, Evander Holyfields reported net worth is $1 million, a fraction of what it was at his peak. When Holyfield went broke in 2012, he owed about $500,000 in child support. by If Holyfield was in the ring from the 90s to the early 2000s, tens of millions of dollars wouldve been headed his way. Holyfield also went through three divorces. 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. Holyfield has 11 children from five different mothers, according to the Independent. And keeping such a massive space with so many amenities had many extra costs. More families mean more money, and Holyfield has several families.