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Boxers are infamous for being some of the biggest spendthrifts in sports history. Evander Holyfield added his name to the list when he was forced to sell his extravagant mansion after owing over $10M in mortgage payments.
The property was subsequently picked up by rapper Rick Ross for around $5.8M. The 109-room mansion in Atlanta was acquired by Evander Holyfield at the peak of his stardom. The estate was to be a monument to his success.
In addition to the 109 rooms, the mansion was home to an Olympic-sized swimming pool, a bowling alley, a movie theater, 17 bathrooms, three kitchens and every other essential that Evander Holyfield fancied.
Evander Holyfield and his history with bad investments
The dawn of the new millennium was a turning point for Evander Holyfield, who was at the peak of his affluence till 1999. Things started going downhill after Holyfield lost his titles to Lennox Lewis in November 1999 by unanimous decision.
Due to a lack of financial advisers in his corner, Evander Holyfield was forced to part ways with a massive amount of money due to bad investments and poorly planned business ideas.
"It is hard to fall down, and I kind of feel like everything is too late. When you don't have others looking out for you, everybody's taking something for themselves. Man, they were stealing, just stealing, stealing. [I want to] pass this onto my kids, where they won't have to worry about the same thing. I used to be foolish, but I ain't foolish no more," said Evander Holyfield.
1999 saw him set up his own record label called 'Real Deal Records.' However, the venture failed to take off and cost him $2.3M. This was only the start. He owned another botched business venture, his restaurant. It set him back a whopping $7.6M.
Evander Holyfield is now looking to make a comeback to the squared circle to take on Vitor Belfort. Belfort was initially slated to go toe-to-toe with Oscar De La Hoya. 'The Golden Boy' was recently ruled out of the bout after testing positive for COVID-19.
