Former heavyweight champion Evander Holyfield denies that his home will be foreclosed.
A legal notice in a small local newspaper said Holyfield’s estate will be auctioned to the highest bidder for cash on July 1.
The 54,000-square-foot home has 109 rooms, including 17 bathrooms, three kitchens and a bowling alley. The estate is valued at $10 million.
In The Atlanta Journal-Constitution, Holyfield, 45, said he’s not broke. “I’m just not liquid.”
On top of that, there are reports that Holyfield is behind on support payments for at least one of his 11 children, and a federal lawsuit in Utah is claiming the four-time heavyweight champ is running from $550,000 of loans that paid for landscaping on his mansion.
Holyfield’s attorney confirmed that the house is no longer up for auction.
But there is little doubt he is struggling financially despite earning over $250 million in a 24-year career.
But with so many children and two expensive divorces behind him, his resources are being severely drained. His mansion estate costs at least $2m a year to maintain.
His last big pay day was for $5m but that was five years ago. There have also been losses in failed business ventures, particularly a gospel television station.
Holyfield still continues to fight although he is way past his best.
This (money problems) isn’t the reason I’m fighting,’ he said. ‘I’ve been telling people that my goal was to be undisputed champion and I haven’t changed.’