Now, 57-year-old former champ Evander Holyfield lives in a two-bedroom. 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. TV News / Jon Galt. TMZ.com. How did Evander Holyfield lose his house . 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. June 6, 2021, 5:50 pmupdated June 7, 2021, 6:18 am His total earnings were around half a million dollars, including brand deals. 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. Tour Evander Holyfield's Former Mansion. Plus you gotta understand, they saying fight somebody who boxing ain't his thing.". The fight will be contested over eight, two-minute rounds with 12-ounce gloves. 58-year-old Evander Holyfield will take on Vitor The Phenom Belfort. Two heavyweight legends Evander Holyfield and Mike Tyson, as Holyfield is inducted into the Nevada Boxing Hall of Fame in 2014. 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. 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 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. According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. 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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. On Saturday night, Holyfield got absolutely demolished in his fight against the former UFC champion which ended in the first round. Holyfield also committed to paying for the private education of all three of his children. 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. 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. I know all the things that's necessary to be safe. 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. One of heavyweight boxing's biggest names estimates he earned US$200 million (NZ$312m) from his 26 years in the ring. Evander Holyfield is one of those fighters. "All boxers on this card have successfully met all requirements to be licensed by the Florida Athletic Commission," a spokesperson for the commission said. 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? Smith received cash and property from the 2012 divorce, including child and spousal support. 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. 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. 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. "This is the first time my kids ever told me 'Dad, you don't need to be getting hit,'" Holyfield said. He spent $5.8 million on the Georgia estate he purchased from Evander Holyfield, which included 109 rooms. "All I know is it's a fight and they got the rules. Holyfields wealth was unimaginably massive, but expenses have a way of scaling up to any level. The suit threatened Holyfield with jail time if he didn't pay up. Football, basketball, boxing, it didn't matter. Does Rick Ross own a multi-million dollar mansion in Georgia? "Iron" Mike's November exhibition with Roy Jones Jr. -- a Triller event -- was a massive success. "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.". All Rights Reserved. def. Evander Holyfields net worth has been reduced by half as a result of his mortgage default. 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. Today, his wealth is stabilized at around $500,000. Evander Holyfield by TKO, 1: . Holyfield, boxing's only four-time world heavyweight champion, formally announced his retirement from the ring last year, at the age of 51. 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 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.. 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? Holyfieldinsists he can turn his financial situation around for the sake of his 11 children. When the housing crisis hit in 2008, Holyfield had to sell his house for less than half of what he paid for it. demolished in his fight against the former UFC champion which ended in the first round. He had extraordinary longevity, sticking it out for 26 years before retiring at 51 years old. Global Business and Financial News, Stock Quotes, and Market Data and Analysis. His wealth was quickly slashed in two, and he agreed to $36,000 in yearly payments for child support. by To demonstrate its commitment to investing in distressed assets, the bank purchased this property. Evander Holyfield is one of those fighters. . In 2008, when the global housing market crashed and dragged most of the worlds economy down with it, Holyfield needed to sell his home. His spending habits extended beyond simple overspending and into the high-adrenaline world of risk-taking thrills. And keeping such a massive space with so many amenities had many extra costs. The boxing career of Evander Holyfield has been marked by highs and lows. Holyfield will step into the ring after more than a decade of inactivity. Sign up for free newsletters and get more CNBC delivered to your inbox. 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. Today, Evander Holyfields reported net worth is $1 million, a fraction of what it was at his peak. 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. 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. That's what a tough chin and hard hands will get you. Alejandro Avila The Holyfield vs. Belfort live stream will be hosted by Fite TV, which is offering access to the fight for $50. The mansion stands at 45,000 square feet and is situated on more than 235 acres. The mansion has become a significant example of Georgian real estate due to its unparalleled features and recreational facilities. Videos by OutKick. Holyfield competed in boxing till the age of 48 years, with his last professional bout coming against Brian Nielsen back in May of 2011. After all, the perils of riches lay mostly in how they're spent. A tiered movie theater seats a staggering total of 135, and a formal dining room area can accommodate 100 guests quite comfortably. Holyfield was evicted from his 109-room Atlanta mansion, owing US$14m in mortgage repayments. 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. UFC legends Anderson Silva and Tito Ortiz meet in a professional boxing match in the co-feature. Catch the sneak peek, and don't miss the series premiere of "Back in the Game" Wednesday, November 6 at 10P ET on CNBC. However, he lost all his money almost as quickly as he earned it. Holyfield (44-10-2, 29 KOs) accepted the Belfort assignment on just eight days' notice after Oscar De La Hoya tested positive for COVID. football player for Diego Juniors FC. Holyfield told the programme: "It is hard to fall down, and I kind of feel like everything is too late. BBCestimates the Holyfield made nearly a quarter of a billion dollars over the course of his boxing career. Here's how, You sense the market is desperately hoping the Fed is done hiking interest rates, says Peter Boockvar. Holyfield didn't . The 54,000 square-foot mansion is also the largest in Georgia. It was the only fight in his career that brought in over $100 million on its own, the infamous Holyfield vs. Tyson II fight. Get this delivered to your inbox, and more info about our products and services. What happened? The true price was even higher, however. At 58 years old, Evander Holyfield is returning to the boxing ring to face MMA legend Vitor Belfort. Basically, the boxer had more kids and ex-wives than he could reasonably afford. (via @OmarESPN) pic.twitter.com/wlR89gCjJC, ESPN Ringside (@ESPNRingside) September 12, 2021. That was Belfort's fourth loss in six Octagon appearances. The home was said by Daily Mail to cost Holyfield a solid $1 million per year, and that's just in taxes and upkeep. Get the Daily OutKick and get smarter every day. The property, which is located in Atlanta, Georgia, is worth $5.8 million. How did Evander Holyfield lose all his money? Regardless of the overriding ethical questions at play, 58-year-old Evander Holyfield is still set to headline a boxing pay-per-view card on Saturday in the year 2021 against 44-year-old former . Fighters 154 pounds and above typically wear 10-ounce gloves. When they were set to fight in Los Angeles on the same date, the fight was an exhibition. 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. He lost the title to Mike Tyson in a second fight after winning it the first time. 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. He finished his career at 53 years old with five losses in his final seven bouts. For a long time, Evander Holyfield, four time heavyweight champ, had the funds to live a lavish lifestyle. When Holyfield went broke in 2012, he owed about $500,000 in child support. A legal notice from Washington Mutual Bank in June of 2008 revealed that the 54,000 . 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. 2023 CNBC LLC. 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Three divorce settlements quickly slashed his net worth in half, along with child support payments to eleven children by six different women. In 2012, Holyfield lost the home after failing to pay $14 million in debt payments. Fournier, a part-time boxer, scored a knockout of musical artist Reykon in April on the Jake Paul-Ben Askren undercard. Evander Holyfield estimates he earned more than $300 million from his 57-fight career. However, a story on Rolling Out revealed that one of the rappers contemporaries, Meek Mill, posted a picture of his friends purchase on Instagram. Holyfields 109-room home in Georgia is listed for sale for $5.7 million, with a bowling alley, theater, and pool included. The mansion, which Holyfield had originally put on the market for $10 million, had been foreclosed on in 2008. Meanwhile, Vitor Belfort took home a whopping $400,000 for his appearance against Evander Holyfield. "We have approved this as a full pro bout," the commission said. Back in 2014, Rick Ross bought legendary boxer Evander Holyfield's mansion in Fayatteville, Ga. for $10 million. 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. According to a lawsuit Evander Holyfield recently had with Triller, hell be paid $5 million for the fight. According to Celebrity Net Worth Holyfield earned a whopping $230 million from fight purses alone. Even recouping proved to be a financial loss. Evander Holyfield apparently got paid very well for his two minutes inside the ring against Vitor Belfort. 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. But today, he only holds a small fraction of his former net worth. 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. Gambling related content is not intended for anyone under the age of 21. "If he had the right team behind him, he would have never lost his fortune.". 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. 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. The divorces were certainly costly, but not nearly as expensive as his obligations to his children. This upkeep accounted for an additional $1 million in expenses every year. B/R's combat sports team was in the house for "Triller . 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. 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. 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. 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. In the first round, Tyson defeated him. Donald Trump is doing way more than calling a fight this weekend .