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. What happened? Even recouping proved to be a financial loss. The 58-year-old Evander Holyfield has agreed to box Vitor Belfort on September 11 as per the reports of TMZ sports. Dan saying Holyfield earned 5-6 million dollars tonight. 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. Evander Holyfield reigned supreme as both a cruiserweight and a heavyweight champion. Evander Holyfield's loss is Rick Ross' gain. 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. Holyfield owed the IRS twice as much money, with his plight hitting the headlines . Peek inside this epic slice of superstar real estate. And he seems happy again. It ended up going for half of what he bought it for. Holyfield, boxing's only four-time world heavyweight champion, formally announced his retirement from the ring last year, at the age of 51. Mike Tyson chomps on the ear of Evander Holyfield in the third round of their WBA heavyweight bout in Las Vegas in 1997. Sources told ESPN Holyfield has expressed apprehension about the fight counting toward his official record. How Much Did Evander Holyfield Pay For His House. 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. Get this delivered to your inbox, and more info about our products and services. 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 boxing career of Evander Holyfield has been marked by highs and lows. 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. The biggest monetary problem for Holyfield turned out to be the massive mansion that he bought for $10 million. The suit threatened Holyfield with jail time if he didn't pay up. In July of 1988 . Regardless, the Commission will be supervising the fight.". The Boxing Tribunesays he dropped most of his cash betting on a variety of different sports. This meant that his per-fight revenue and marketability were extremely high. Evander Holyfield will go down in history as the boxer that dethroned Mike Tyson. 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. Got a confidential news tip? 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. His spending habits extended beyond simple overspending and into the high-adrenaline world of risk-taking thrills. According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. 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. That's what a tough chin and hard hands will get you. Rapper Rick Ross purchased the home in 2014. Evander Holyfield and Russian giant Nikolai Valuev fight in Zurich, Switzerland in 2008. 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. The cost includes unlimited replays for all fights in the event until Dec. 11, so . It remains to be seen how safe it is for a 58-year-old to compete. Roman Reigns & Usos Removed From Smackdown? Holyfield, who retired from boxing in 2000, is now focused on his property and training business. Today that would be about $52,400,000. At 58 years old, Evander Holyfield is returning to the boxing ring to face MMA legend Vitor Belfort. Evander Holyfield is one of those fighters. However, in a sport as lucrative as boxing, many fighters lose their career earnings in the blink of an eye. Evander Holyfields home in Fayetteville, Georgia has been sold for $5.879 million to rapper Rick Ross. Women's boxing pound-for-pound rankings: Did Baumgardner do enough to overtake Serrano? Allan Binoy is a Combat Sports Author at EssentiallySports. His wealth was quickly slashed in two, and he agreed to $36,000 in yearly payments for child support. Holyfield, boxing's only four-time world heavyweight champion, formally announced his retirement from the ring last year, at the age of 51. . According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. 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. However, a story on Rolling Out revealed that one of the rappers contemporaries, Meek Mill, posted a picture of his friends purchase on Instagram. Dan Rafael (@DanRafael1) September 12, 2021. Vitor Belforts Professional Boxing Record: Has He Boxed Before? We want to hear from you. (via @OmarESPN) pic.twitter.com/wlR89gCjJC, ESPN Ringside (@ESPNRingside) September 12, 2021. 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. Evander Holyfield vs. Vitor Belfort -- Round 1: Holyfield opened up with a few jabs as Belfort circled with his guard up high. 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. And that was in 2006, a first-round KO victory in his native Brazil. Another son, 22-year-old Evan, just made his professional boxing debut,knocking out opponent Nick Winstead in only 16 seconds. football player for Diego Juniors FC. The pay-per-view begins at 8 p.m. 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. 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. Evander Holyfield is one of the greats of the boxing world. Evander Holyfields net worth has been reduced by half as a result of his mortgage default. Evander Holyfield was once thought to have earned more than $230 million in a single fight purse. But there came a point when this former International Boxing Hall of Famer was losing more money than his fists could bring in. arrivals in the venue shortly after 6 p.m.an hour before the pay-per-view broadcast got started. Money, of course. pursuing a bachelor's degree in English Literature. Today, Evander Holyfields reported net worth is $1 million, a fraction of what it was at his peak. 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 . His record: 15-40-3, 1 KO. 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 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. His total earnings were around half a million dollars, including brand deals. Evander Holyfield by TKO, 1: . 9/9/2021 1:00 AM PT. First, an ongoing divorce settlement wrapped up after he bought his home. A dedicated pro wrestling follower for more than a decade who feels fortunate to express the love for the art through writing. Ross, the Lemon Pepper Lord of Lyrics, has a net worth estimated at $40 million. I do what I have to do.". 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. The Reason Evander Holyfield Lost His Money. 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. 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 . According to a lawsuit Evander Holyfield recently had with Triller, hell be paid $5 million for the fight. 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. "If he had the right team behind him, he would have never lost his fortune.". 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. 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. 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. For one, he's making multiple millions, sources told ESPN. "All I know is it's a fight and they got the rules. By Ivan G. Goldman What are we to make of the news that financially besieged Evander Holyfield has been ejected from his 54,000-square-foot mega-mansion . 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. The fight will be contested over eight, two-minute rounds with 12-ounce gloves. He had to. Published: January 6 2014 22:05. So what does Holyfield say to those who say he shouldn't be fighting at 58? A tiered movie theater seats a staggering total of 135, and a formal dining room area can accommodate 100 guests quite comfortably. During his career Holyfield earned an estimated $230 million in. His expenses kept his net worth somewhat depressed despite all that revenue. https://t.co/6f7eB955Xr, Mark Ortega (@MarkEOrtega) September 12, 2021, Brobible sports editor. 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? The mansion stands at 45,000 square feet and is situated on more than 235 acres. The wealthy businessman made a killing when he purchased the opulent estate for $5.8 million. 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. Featured in the Eddie Murphy sequel Coming 2 America, boxing champ Evander Holyfield's one-time home in Fayetteville, Georgia, covers 44,234 square feet. Fighting Lopez creates a better opportunity for Taylor, but can he beat him? 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. Holyfield will step into the ring after more than a decade of inactivity. 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. BBCestimates the Holyfield made nearly a quarter of a billion dollars over the course of his boxing career. All Rights Reserved. Both fighters also weren't supposed to push for a knockout. 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. 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? He ended up selling his mansion for less than half the amount he bought it for. Smith received cash and property from the 2012 divorce, including child and spousal support. You are agreeing to OutKick's Terms of Use and Privacy Policy, but don't worry we don't spam. 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. This upkeep accounted for an additional $1 million in expenses every year. How did Evander Holyfield lose all his money? Lets go inside Rick Ross stunning home in New York. Belfort hasn't fought since May 2018, a second-round KO loss to Lyoto Machida at UFC 224. 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. Now, 57-year-old former champ Evander Holyfield lives in a two-bedroom. The boxing career of Evander Holyfield was reborn after his release from prison. A post shared by Evander Holyfield (@evanderholyfield). 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. Mayweather's weight limit was 160 pounds; Paul's was 190. However, he lost all his money almost as quickly as he earned it. Three divorce settlements quickly slashed his net worth in half, along with child support payments to eleven children by six different women. When he lost to Mike Tyson in 2000, Holyfield was convicted of cocaine possession and beaten by his second wife. . Does Rick Ross own a multi-million dollar mansion in Georgia? In his prime, Evander Holyfield made millions of dollars each fight, with his highest-earning purses coming from the Iron Mike Tyson fights. demolished in his fight against the former UFC champion which ended in the first round. Dade County's finest Rick Ross has officially purchased a 109-room mansion from boxing great Evander Holyfield. Here's how, You sense the market is desperately hoping the Fed is done hiking interest rates, says Peter Boockvar. Throughout his career, Holyfield made bank, but that's what you'd expect from a fighter of his caliber. 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. A bowling alley, a movie theater, and a movie theatre are among the attractions at Rick Ross mansion, which has 109 rooms. The home was said by Daily Mail to cost Holyfield a solid $1 million per year, and that's just in taxes and upkeep. So, what does Rosss new home have to offer? 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. A legal notice from Washington Mutual Bank in June of 2008 revealed that the 54,000 . Holyfield told the programme: "It is hard to fall down, and I kind of feel like everything is too late. 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. Alejandro Avila Silva upset Julio Cesar Chavez Jr. this summer in Mexico, and now fights Ortiz, who will be making his boxing debut. Plus you gotta understand, they saying fight somebody who boxing ain't his thing.". There is no reason why we cannot achieve this, according to 36-year-old Andy. By: Holly Aguirre. Everything you need to know about Evander Holyfield vs. Vitor Belfort, The triumph of Michael B. Jordan and Jonathan Majors in Creed III. But today, he only holds a small fraction of his former net worth. And with his kids happy, healthy, and doing well in school, Evander Holyfield couldnt be happier with where it all ended up. 3 Comments. Ultimately in this case, the decision on whether Saturday's fight is a sanctioned match or an exhibition match is a matter for the participants. The divorces were certainly costly, but not nearly as expensive as his obligations to his children. Given the FAC's decision, Holyfield has completed this evaluation. Holyfieldcontinues to earn around $100,000 per month through personal appearances but that vast wealth vanished through reckless spending, bad business deals and even worse financial advice, news.com.au reported. 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. "Iron" Mike's November exhibition with Roy Jones Jr. -- a Triller event -- was a massive success. 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. Many rooms were transformed for the latter films sequel, which was created in a suitable setting. In 2014, Evander Holyfield paid $8.5 million to build a home in Atlanta, Georgia. 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 publication likewise says he wasn't very good at the whole gambling thing, and Holyfield went bankrupt. 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. The estate is located on 235 acres of land and has 109 rooms, 12 of which are bedrooms and 21 of which are bathrooms, making it the largest single-family home in Georgia. All rights reserved. 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. The mansion has been among the sources of the boxer's. Fighters 154 pounds and above typically wear 10-ounce gloves. ET. His total earnings were around half a million dollars, including brand deals. It reports come after it was found that Oscar De La Hoya has tested positive for . 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. 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. While the payout made this fight a big deal, it isn't what made it the most famous and well-known fight in history. "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.". Outkick is a company that produces videos. One of heavyweight boxing's biggest names estimates he earned US$200 million (NZ$312m) from his 26 years in the ring. "[I want to]pass this onto my kids, where they won't have to worry about the same thing," Holyfieldtold CNBC. The child support is really where the boxer's family debt began to get out of hand. Full Spectrum Services LLP 2022 | All Rights Reserved. June 6, 2021, 5:50 pmupdated June 7, 2021, 6:18 am Sign up for free newsletters and get more CNBC delivered to your inbox. Rodriguez said Holyfield was let down by the people around him during his fighting days. The same Independent piece notes that Holyfield spent $10 million on a massive 45,000 square foot mansion. 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. Donald Trump is doing way more than calling a fight this weekend . 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. Was it worth his pride? Evander Holyfield spent a huge portion of his fortune building a mansion only to be left with no funds to maintain it. TMZ.com. Celebrity Net Worth notes that Holyfield earned a whopping $230 million from fight purses alone. The $230m he earned over a. In total, Holyfield married three women and was divorced twice. Holyfield competed in boxing till the age of 48 years, with his last professional bout coming against Brian Nielsen back in May of 2011. Belfort is 14 years younger than Holyfield and looks to be in much better shape than the former champ. In 1998, Evander Holyfield paid $11.4 million for a 114-acre estate in Fayetteville, Georgia. Holyfield (44-10-2, 29 KOs) accepted the Belfort assignment on just eight days' notice after Oscar De La Hoya tested positive for COVID. 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. According to a lawsuit Evander Holyfield recently had with Triller, hell be paid $5 million for the fight. On Saturday night, Holyfield got absolutely demolished in his fight against the former UFC champion which ended in the first round. 2023 CNBC LLC. He lost by split decision to WBC champ Edwin Rosario, 23-0, in June 1984. Holyfield will fight Kevin McBride in an exhibition match that has yet to be rescheduled. More families mean more money, and Holyfield has several families. 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. That was Belfort's fourth loss in six Octagon appearances. A Division of NBCUniversal. by 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.