Evander Holyfield, former heavyweight champion, is having some serious financial problems. This was a shock to me after reading it on the Atlanta Journal Constitution’s website. The news broke after Toi Irvin, the mother of his 10-year-old son, one of nine children he’s fathered, said that he had missed two child-support payments, and she filed a petition for contempt in the Fayette County Superior Court. Irvin, who lives in Clayton County, said she was told by Holyfield’s representatives not to expect the payments, $6,000 total, for May and June.
According to the AJC, the former heavyweight champion appears to be in serious financial trouble. His palatial estate in
Fayette County is under
foreclosure, according to a legal notice that appeared in a local newspaper, and is set to be auctioned by Washington Mutual Bank on July 1. The home is worth an estimated $10 million. Holyfield, 45, is also being sued by a Utah consulting company for failing to repay a $550,000 loan. The lawsuit, filed 15 days ago in U.S. District Court in Salt Lake City, said Holyfield borrowed the funds to pay for landscaping on his 235-acre estate.
The attorney for Irvin said his client also wants assurances that Holyfield has maintained a trust fund for Evan. Holyfield has been trying to secure another heavyweight championship, last fighting on Oct. 13, 2007. He was defeated by Sultan Ibragimov, though he made it to the 12th round, and said he plans to fight again.
It’s not known how much money Holyfield accrued over the years. though he received $34 million to fight Mike Tyson in the infamous ear-biting bout in 1997. In his book, “Becoming Holyfield: A Fighter’s Journey,” the ex-champ wrote, “I’d made over $90 million in the short time [of the marriage to Janice] and, as things too often do, it came down to money because we didn’t have a prenuptial agreement.” Yeah, I am sure this woman is laughing all the way to the bank because of his stupidity. I am sick and tired of hearing about all these rich people who end up broke. Ed McMahon is fighting foreclosure of his multimillion dollar mansion. He is in arrears for $644,000. It is a sad commentary when you live lavishly and act as though when you turn on the spigot money will continue to flow out for the rest of your life. You cannot live with the mentality of “one day feasting, the next day you go through a famine.” Why can’t these people get proper financial counsel and take some financial planning or money management classes. I am sure that Evander Holyfield’s promoter laughed all the way to the bank. The same thing happened to Mike Tyson, though we can understand why.
Evander Holyfield gave many the impression that he had his wits about him and knew how to run things. It is a shame that he is about to lose his home. I wonder if the money he gave Creflo Dollar to hold is gone too? You see, he played his wife dirty during the divorce, but it always catches up with you when you least expect it to. This should be a lesson to all the celebrities out there, stop showing off and do the right thing, practice financial responsibility and stop surrounding yourselves with a huge entourage of hangers-on who are in it just for the ride and the money. I take no joy in the financial hardships of anyone because we all go through such challenges at some point in our lives, but we must learn from our mistakes and learn from our past. Just my thoughts, you be the judge…..
Filed under: Evander Holyfield, Heavyweight champion, Mike Tyson
Evander Holyfield, former heavyweight champion, is having some serious financial problems. This was a shock to me after reading it on the Atlanta Journal Constitution’s website. The news broke after Toi Irvin, the mother of his 10-year-old son, one of nine children he’s fathered, said that he had missed two child-support payments, and she filed a petition for contempt in the Fayette County Superior Court. Irvin, who lives in Clayton County, said she was told by Holyfield’s representatives not to expect the payments, $6,000 total, for May and June.
Black Political Thought 