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Evander Holyfield

Boxing Up Foreclosed

Georgia Mansion

7/9/2012 12:00 PM PDT BY TMZ STAFF
EXCLUSIVE

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Evander Holyfield couldn't fight his way outta this one ... the former heavyweight champ is finally moving out of his foreclosed Georgia mansion after failing to strike a deal with the bank.

TMZ broke the story ... Holyfield owed more than $14 million on the 54,000 square foot mega-mansion ... which was recently sold at a foreclosure auction for $7.5 million.

After the sale, the bank that purchased the home allowed Evander to continue to live there temporarily ... but judging by the moving trucks lined up at his front door ... it seems he's finally worn out his welcome.

We're told the trucks spent several hours at the mansion -- though it's unclear where the movers are taking E.H.'s stuff.

Holyfield obviously has some major financial problems -- besides the foreclosure, he owes a ton of cash in unpaid federal taxes ... plus, he's up to his mangled ears in back child support payments.

For more sports stories, check out tmzsports.com!
38 COMMENTS

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16.

THIN LIZZY    

98% of boxers end up broke. If your career consisted of getting punched in the face 500 times a night, you wouldn't be the sharpest knife in the drawer either. You would think that these guys would set up a trust for themselves the moment that first big payday came in.

746 days ago
17.

JugEars McKenyan Sr..    

Another broke or going broke "BLACK AFFFLETE" who once had hundreds of millions of dollars and now he has bupkis.... too bad he doesn't have that ear chunk lopped off by the animal Tyson, he could move it on EBAY and pay off his crack dealer at least...

746 days ago
18.

dope-digity    

Homie's got a BBQ sauce on the market!!!, the real deal will be fine

746 days ago
19.

Paul B    

Dumb brainless bum..How could the dumb assssss lose so much money is beyond belief...

746 days ago
20.

Paul B    

He needs a kick clean up his chocolate starfish/date/ring/qiot....

746 days ago
21.

Bill COLEMAN    

So much for tithing. Evander gave more then 10% of all his winnings to Creflo Dollars' church... Totaling Millions of dollars!! Where's all the "blessings"? Why isn't the church stepping up to aid in his financial woes? Oh yea...must be Gods will. What a joke.

746 days ago
22.

MasktRacer    

What the hell is wrong with all these athletes and actors who end up in debt and broke???? Millions of dollars in earnings and none of them save money for when their careers are over.
Smartest boxer EVER was Larry Holmes, he actual kept his money after dealing with Don King.

746 days ago
23.

Timmy Boy    

"though it's unclear where the movers are taking E.H.'s stuff. "
What do you mean? Didn't you follow the trucks?

746 days ago
24.

harleyharlett    

he bought it for 14 million - and it's only worth 7.5 million now - i kinda think he is walking away on purpose cuz he's underwater

746 days ago
25.

brianjones0069    

This Dumba** will die broke in a shack on the outskirts of some unknown town. Couldn't control his impulses, spending and libido if his life depended on it.

746 days ago
26.

jr    

when is his next fight?

746 days ago
27.

Patricklee Hamilton    

I stood at this very gate to view this property. It is HUGE. One of EH's guards talk with me and my brother explaining to us the layout. I will never understand why these Multi millionaires don't just pay (cash) for their homes when they actually have it early on in their careers. Between taxes and child support-I guess this dude is seriously heading to the soup line. And, BTW, E, get in line, there are other (celebs) in front of you. Take a number.

746 days ago
28.

Brian    

As financial advisor to dozens of athletes, it just sickens me to see this. These guys spend money as if they will always make those big paychecks. Despite constant warnings and outright begging, they spend and spend. Most only "net" 1/3 of their paycheck after taxes etc. Still a big paycheck.
The last thing that does these guys in is "friends and family". Always with the hand out-" fix my car, pay my rent, oh look what you have, help me" It never ends. Usually we set up trusts and other protection to at least stop some of it. Some never learn though.

746 days ago
29.

kingfish    

I think racist America just likes seeing a black man fail in general as they really seem to pounce on this type of story when one does. However, it seems like he wanted to hold on to a fantasy for far too long and that the money and time he spent saving it could have been applied towards a very nice alternative home.

743 days ago
30.

ladycashmere    

I don't understand why anyone need that much space, common sense people you really need to think about the future will i be able to pay for the this when i get older, what will happen if i can't work . Even if the house is paid for will i afford the taxes? Do i really need over 2 cars. How about buying some houses you can rent out so you can have some backup. something. It's so easy to get caught up when you famous!!!!

621 days ago
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