Holyfield: 'I'm not broke'
Former boxing champ has heavyweight financial problems


The Atlanta Journal-Constitution
Published on: 06/06/08

Boxing icon Evander Holyfield says he's "not broke," and that he's always taken care of his children, despite reports this week that the three-time world champion's 109-room mansion in Fairburn was in foreclosure and that he's behind in child support payments.

"I'm not broke. I'm just not liquid," Holyfield told the Atlanta Journal-Constitution Friday. "I do feel kind of sad because things have always been positive and now everybody wants to jump on me like I'm the worst person in the world and I went out and blew all my money."

Jessica McGowan/AJC
The foyer of former heavy-weight boxer Evander Holyfield's house is decorated in gold and burgundy colors for the holiday season in this 2005 photo.
 
Associated Press
Evander Holyfiel, left, sends a right to current WBO heavyweight champion Sultan Ibragimov during the WBO heavyweight boxing title match at the Khodynka Arena in Moscow, late Saturday, Oct. 13, 2007. Ibragimov retained his WBO title Saturday with a unanimous points decision over Holyfield.
 
See more photos of Holyfield's home

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Holyfield appeared on the verge of losing his home, which sits on 235 acres just south of the Fulton County line, 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.

On Friday, Philip Hasty, an attorney for Shapiro & Swertfeger in Atlanta, the law firm representing Holyfield's lending company, confirmed that the estate is no longer up for auction. Hasty said that the change happened Thursday morning but he declined to comment further.

Holyfield would not elaborate on the foreclosure listing but said "everything is alright with the house now."

Holyfield's former accountant, Sam Gainer, who was fired by the former world champion last fall, said he had advised his client to sell the estate, or at least some of the property.

"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, though Holyfield has not said what his plans are for the property. 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.

But the debate over his home is not the only issue Holyfield has found himself responding to.

Holyfield, 45, also 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," Kessler said.

Holyfield responded Friday to the child support claims: "Never -- I would never do something like that. That's been a consistency in my whole life. I have always taken care of my children. It's just one of the mothers who's saying something because she thinks it will embarrass me. I just have to roll with the punches in this situation."

Added to that situation, Holyfield 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 would not comment Friday on the loan.

With the foreclosure listing, lawsuit and child support claims putting his finances in the spotlight, the obvious question would be: What happened to all the money?

His fight purses since he turned professional in 1984 have totaled roughly $248 million, including about $35 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, based in Houston, said he doesn't think Holyfield is driven only by money.

"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."

--

AJC Staff Writer Ken Sugiura and news researchers Richard Hallman and Sharon Gaus contributed to this story.

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Comments

By Jimbo

Jun 6, 2008 5:58 PM | Link to this

I can't possibly laugh about this more. Holyfield deserves every bad thing that happens to him. He should be living in a tent, eating vienna sausage. Any idiot who decides he MUST have a 104 room house & borrows a half-mil for landscaping shouldn't be allowed on the street.
However, if this deadbeat doesn't pay his child support, throw him in jail.
Holyfield is even more of a moron than my relatives & my ex-wife. That's a stretch!

By CH

Jun 6, 2008 5:30 PM | Link to this

Evander you will come out ok with all of this, just continue to learn from your mistakes and go forward, that's what we all s/b doing, u have my continued prayers as u pray for ALL of the families that HAVE INDEED LOST THEIR HOMES, just remember them that God will make a way for so many families who aren't as well off to keep the homes that they've worked so hard for and u will be blessed, u helped my child in 1999 with her college tuition,I will never forget what u done, good deeds do return to us in this lifetime, remember that, a sister in Christ
Take Care,
CH

By June Bug is Right

Jun 6, 2008 4:35 PM | Link to this

This chick is obviously correct...it is a new day, it is a new age, and we best all pay heed. The problem is she is looking at the wrong reality.

The reality as I see it is that the current generation of punks, thugs, and white trash, would rather steal success from you and I, than earn it for themselves.

By JUNE_BABY

Jun 6, 2008 4:14 PM | Link to this

some of you blame the ajc for race-baiting, and that may be proper. but,the proper blame would be on all the hood and robe wearing wanna-bes, who come on these pages and spew their nasty hateful venom. when you respond to their comments, the first thing they want to do is say you're playing the race card. as i've said before black people aren't racists, but we respond to racism. a lot of this stuff comes from smart-ass white boys(as andy young called them once), who would cry like babies, if they had to face a man in a real situation. instead of sitting at home, hiding in their closets, afraid to come out. THINGS WILL NEVER BE AS THEY ONCE WERE, SO YOU BETTER GET OVER IT. IT'S A NEW DAY AND TIME!

By BRION

Jun 6, 2008 3:59 PM | Link to this

TED......AND THEIR ARE PEOPLE WHO MAKE A FRACTION OF WHAT HE MADE AND ALSO STILL GO BROKE, WHATS YOUR POINT...HOW DO YOU KNOW IF HE DIDNT HAVE A BAD INVESTMENT DEAL???? THE LAST TIME I CHECKED, ABOUT 90% OR MORE PEOPLE WHO INVEST IN THE STOCK MARKET AND OTHER PLACES LOOSE MONEY....AND YOU ALL HAVE TO REALIZE TOO....HE MADE $248 MILLION, BUT YOU ALSO NEED TO FACTOR IN THE CUT HIS TRAINERS GO, DON KINGS CUT, ALSO THE CHAMPION SHIP COMMITTEE WHO HE HAS TO PAY TO KEEP BELTS( YES YOU HAVE TO PAY A FEE TO THEM AFTER YOU WIN THE BELT, HOLYFIELD EVEN EXPLAINED THAT, GOOGLE IT) AND OF COURSE UNCLE SAM....SO THAT 248 MILLION PROBABLY ENDED UP AT AROUND 90-100 MILLION...STILL NOT BAD, BUT CAN STILL GO BROKE WITH BAD INVESTMENTS, NOT TO MENTION IF YOU HAVE A CROOKED ACCOUNTANT..HAPPENS TO PLENTY OF ATHLETES AND MUSICANS.

By BRION

Jun 6, 2008 3:58 PM | Link to this

TED......AND THEIR ARE PEOPLE WHO MAKE A FRACTION OF WHAT HE MADE AND ALSO STILL GO BROKE, WHATS YOUR POINT...HOW DO YOU KNOW IF HE DIDNT HAVE A BAD INVESTMENT DEAL???? THE LAST TIME I CHECKED, ABOUT 90% OR MORE PEOPLE WHO INVEST IN THE STOCK MARKET AND OTHER PLACES LOOSE MONEY....AND YOU ALL HAVE TO REALIZE TOO....HE MADE $248 MILLION, BUT YOU ALSO NEED TO FACTOR IN THE CUT HIS TRAINERS GO, DON KINGS CUT, ALSO THE CHAMPION SHIP COMMITTEE WHO HE HAS TO PAY TO KEEP BELTS( YES YOU HAVE TO PAY A FEE TO THEM AFTER YOU WIN THE BELT, HOLYFIELD EVEN EXPLAINED THAT, GOOGLE IT) AND OF COURSE UNCLE SAM....SO THAT 248 MILLION PROBABLY ENDED UP AT AROUND 90-100 MILLION...STILL NOT BAD, BUT CAN STILL GO BROKE WITH BAD INVESTMENTS, NOT TO MENTION IF YOU HAVE A CROOKED ACCOUNTANT..HAPPENS TO PLENTY OF ATHLETES AND MUSCIANS.

By The Atlanta Jumbled and Construed

Jun 6, 2008 3:55 PM | Link to this

Paul, just to clarify your 2.39 pm pam, "Bush is the architect of the foreclosure economy".

While I love the comment, and the thought that went into it, I would be amiss if I did not point out it was originated by someone else; probably another of his daddy's friends. We all know "Dubya" has never had an original thought in his life.

By Mario

Jun 6, 2008 3:43 PM | Link to this

Maybe if the Real Deal can secure another commercial with Burger King, that might get him out of his financial bind.

By john

Jun 6, 2008 3:39 PM | Link to this

Since he dropped a couple hundred thousand on a faith healer and believed it worked, maybe he can spend a wad on a financial faith healer to fix his situation this time.

We all really know what the answer to his problem is, beat up some more people in Jesus name Evander. He did proclaim that god had given him this special gift of being able to deliver a beat down on people.

Lets face it, Evander makes Forrest Gump look like a brain surgeon. Although I will admit that he was smart enough to figure out cheating by headbutting a fight changing cut on your opponent can work well if you have a fire hydrant of a head like he does.

You know what they say about money, easy come, easy go.

By Oracle

Jun 6, 2008 3:38 PM | Link to this

So what else is NEW? Life's ups and downs sometimes appears in our hopes and dreams for all the WORLD to take note of, good or bad, Now is the time for all GOOD PEOPLE to come to the forefront and reach out and show LOVE to our once well and capable Champ for beating the daylights out of a FEW opponents. Keep the Faith Evander, trouble don't last all ways.

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