Holyfield in dire straits financially

Source: Atlanta Journal-Constitution

In what is another sad story of an aging/retired boxer falling on hard times financially, former world heavyweight champion Evander Holyfield is behind on child support payments and in danger of losing his home. From the AJC:

The mother of Evander Holyfield's 10-year-old son — one of nine children he's fathered — says the boxing icon has missed two child-support payments, filing a petition for contempt in the Fayette County Superior Court.

 

Toi 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.

"It wasn't so much that he didn't pay," said Irvin's attorney, Randy Kessler. "She was told they didn't know if she would be paid at all."

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, declined to comment on the child-support allegations and the foreclosure. He 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.

 

Holyfield referred all questions to his attorney, Fred Gardner, who could not be reached for comment.

I guess you can see another side of the story as to why Evander wants to keep fighting. It's because he has to. He could make the rounds on the memorabilia circuits and things like that, but that's not as lucrative as it was back during the heyday when Mickey Mantle and others were pulling in a lot of cash in their retirement years. Fighting gives Holyfield chances to pull in big money, quickly.

It's really too bad that this is happening, but while it's good to feel compassion for Holyfield and other fighters, you know, how many cautionary tales do these guys need? I'm not trying to be callous or anything, but when will fighters learn not to squander money?

Regardless, this man is a Hall of Famer-to-be, and it's terrible to hear about him being in such financial shape. Good luck, Evander.