Evander Holyfield loses home to foreclosure

Evander Holyfield can again serve as a case study for every child in Ireland.

This month, Mr. Holyfield lost is 109-room home in the southern US state of Georgia to foreclosure.

In addition to losing his home,  Mr. Holyfield has taken to selling the boxing gloves from the heavyweight bout in which Mike Tyson bit off part of his ear, auctioning medals, championship belts and other memorabilia after losing his home to foreclosure.

Holyfield’s bronze medal from the 1984 Olympics also will be included in the sale,

Holyfield, 49, moved out of the sprawling 109-room mansion this month after it was sold for $7.5 million in a March foreclosure auction. According to newspaper reports, he owed more than $14 million on the house. He’s earned an estimated $250 million during his career.

His personal finances appear to be intotal  chaos and with a large child support bill that is estimated to be in arrears to the tune of several hundred thousand US dollars, Mr. Holyfield appears to have taken to literally selling the family silver (and gold…and bronze) to keep the bailiffs away.

While losing a home is sad, are 109 rooms really necessary? Or, if the bills mount, couldn’t Mr. Holyfield perhaps planned his personal finances a little better. For kids, his is a classic case of..it is not what one OWNS, but what one OWES!

But back to Mr. Holyfield. The auction to sell off his personal possessions, his memorabilia will include over 20 pairs of fight-worn gloves, robes and trunks; championship rings and belts; and autographed posters, according to the release.

The auction, which has over 500 items, also includes parts of Holyfield’s life outside of boxing, including furniture, clothing, jewellery and his red 1962 Chevrolet Corvette.

The items will be sold in two sessions on Nov. 30. Bidders can participate in person, online or over telephone, according to the statement.

Debt takes no prisoners. The successful, the powerful, the gifted and even world champions cannot fight it off, especially when it gets out of control.

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