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Evander "The Real Deal" Holyfield is broke!

Discussion in 'Entertainment' started by Nyani Ngabu, Jun 6, 2008.

  1. Nyani Ngabu

    Nyani Ngabu Platinum Member

    #1
    Jun 6, 2008
    Joined: May 15, 2006
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    Jamani, this is very sad to me. I can't believe Holyfield is on the verge of losing his palatial home......read this AJC article.....

    Debt threatens to KO Holyfield

    Former boxing champ has heavyweight financial problems

    By CHRISTIAN BOONE
    The Atlanta Journal-Constitution

    Though he no longer earns the kind of money that allowed him to build a 109-room mansion in Fairburn, boxing icon Evander Holyfield remains determined to live like a heavyweight.

    "Sometimes people don't want to hear the facts," said Holyfield's former accountant, Sam Gainer, who was fired by the former world champion last fall. Gainer had advised his indebted client to sell the estate, or at least some of the 235 acres he lives on just south of the Fulton County line.

    "To attack that house in any way, or suggest he get rid of it ... that's just not going to fly with him," said Gainer, based in Houston. The manor, completed nine years ago, has an appropriately grand address: Evander Holyfield Highway. It may not have its own area code, but the estate — worth an estimated $20 million — does have a bowling alley and movie theater.
    "That's his trophy, his symbol of success," Gainer said of the home.

    Holyfield appeared on the verge of losing it after a foreclosure notice appeared in Wednesday's Fayette Daily News. Lien holder Washington Mutual, demanding full repayment of a $10 million loan, had scheduled an auction on July 1.

    Holyfield has taken out two additional mortgages totaling more than $5 million. And the mother of one of his 11 children has filed a petition for contempt in Fayette Superior Court, claiming the "Real Deal" is behind on his child support payments.

    "I would've liked to have seen him take care of his child support obligations before worrying about his house," said Randy Kessler, attorney for Toi Irvin, mother of 10-year-old Evan. Kessler expects a court date to be scheduled within 30 days,

    "If he hasn't made the proper arrangements by then, we'll ask that he be incarcerated," he said.

    The three-time world champion also is being sued by a Utah consulting company for failing to repay a $550,000 loan. The lawsuit, filed 16 days ago in U.S. District Court in Salt Lake City, alleges Holyfield borrowed the funds to pay for landscaping on his estate.

    Holyfield, 45, said he's been advised not to talk about his current legal troubles, and his attorney and business manager did not respond to requests seeking comment.

    The obvious question: What happened to all the money?

    His fight purses since he turned professional in 1984 have totaled roughly $248 million, including $34 million for his 1997 rematch with Mike Tyson. Holyfield was paid $1 million last October to fight Russian Sultan Ibragimov; the former champ lost in the 12th round.

    "I wasn't aware of anything that would've brought things to a head (financially) like this," said Patrick English, attorney for Main Events, which promoted most of Holyfield's major fights. They are no longer affiliated.

    English wouldn't say what caused the split, but Holyfield has broken with many of his past associates, such as his longtime personal lawyer, Jim Thomas. They parted ways in 2003, as Thomas — like many once in Holyfield's camp — advised the fighter he should end his boxing career.

    "He doesn't want people around him who don't believe in what he's doing," Gainer said.

    Holyfield still hopes to fight professionally, and he's recently been trying to drum up interest in another rematch with Tyson, who famously bit off part of Holyfield's ear during their second fight.

    "He always felt like he'd beat that Russian guy, and then he'd get another shot at the title," his former accountant said. "He'd tell me, 'I'm going to become the heavyweight champion again.'"

    Gainer said he doesn't think Holyfield is driven only by money, though his debts are piling up.

    "He's got all kinds of obligations," he said. "It's no surprise he's having financial problems."

    Sizable investments in a recording label and Christian television network — the Black Family Channel based in Atlanta — both soured. "He thinks everyone is as trustworthy as he is," Gainer said.

    "That's the shame of it. He's a great damn guy."
     
  2. Steve Dii

    Steve Dii JF-Expert Member

    #2
    Jun 6, 2008
    Joined: Jun 25, 2007
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    ..... :( , naona endorsement ya "family size - Really Deal Grill" bore no fruits!! sad...
     
  3. Kana-Ka-Nsungu

    Kana-Ka-Nsungu JF-Expert Member

    #3
    Jun 7, 2008
    Joined: Oct 4, 2007
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    Whats wrong with these black boxers? Nilisuspect kungekuwa na kitu tu kwa kuwa jamaa hataki kabisa kustaafu japokuwa uzee ushamuingia, kumbe anataka kuclear madeni!
     
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