Holyfield moving out of Fayette mansion


Former heavyweight champion Evander Holyfield is moving out of his Fayette County mansion.

Evander Holyfield reportedly owes more than $14 million on his estate. (Johnny Crawford, AJC)

Evander Holyfield reportedly owes more than $14 million on his estate. (Johnny Crawford, AJC)

The 109-room mansion, which sits on 235 acres near Fairburn, was sold to JP Morgan Chase for $7.5 million in a foreclosure auction in March.

Chase spokesman Greg Hassell confirmed that Holyfield was in the process of moving out.

“We’ve worked with Mr. Holyfield to give him several months to move; he’s in the process of relocating and we’ve brought in additional resources to move the process forward,” Hassell said.

Tony Tortorici, Holyfield’s senior adviser, confirmed to the AJC in June that the estate sold March 6 for $7.5 million to JP Morgan Chase. Holyfield reportedly owes more than $14 million on the house, including federal taxes. Holyfield has continued to live there since the sale.

In a 2009 interview with the AJC, Holyfield said the mansion cost more than $1 million annually to maintain.

Holyfield also owes some $500,000 in child support payments, according to an article last year in Atlanta Magazine.

“Evander Holyfield’s personal financial situation is complicated,” Tortorici told the AJC last month. “He and his closest friends and advisers are working together to resolve these issues as quickly as possible.”

166 comments Add your comment

Phil Suckalewski

July 10th, 2012
10:10 am

Another athlete squanders millions and doesn’t pay his child support. Another athlete I don’t feel sorry for. Another idiot.

George

July 10th, 2012
10:24 am

wow Phil you are a great guy

Captain Midnight

July 10th, 2012
10:25 am

Man, I hate to agree with you Phil, but I do. “Squander”.. Hammer meet nail.

Lisa

July 10th, 2012
10:26 am

I didn’t know his house was that BIG. WOW! He should have rented some of those rooms.

dood

July 10th, 2012
10:27 am

too familiar a story with boxers. They get their heads beat in and have the common sense knocked out of him. He’ll be completely broke soon and probably living in an apartment.

Only in the A...

July 10th, 2012
10:28 am

Phil is right. I’m a divorced mom of three and my ex doesn’t pay his child support either. Evander had/has the money and won’t take care of his kids. Instead of living in extravagance, he should have been more conservative with his finances and he definitely should have been taking care of his children. All 20 of them or however many there are.

RichestoRags

July 10th, 2012
10:31 am

I don’t think it’s JUST a case of another athlete squandering millions… it’s a number of factors… I’ve NEVER had his kind of money but I imagine it can be overwhelming.. especially when you came from “no money”.. so you buy the biggest home, the best vehicles, throw lavish parties (of which I’ve been to a few) and you live it up.. The problem is.. you’re not thinking about what it takes to maintain these things… In addition… you have money sucking people around you who says.. Yes.. buy that.. Yes.. .build this massive home.. Yes.. have millions of kids and divorce their moms… Yes.. you need 10 cars.. YES YES YES… Which one of his people said.. Hey.. Go back to school and study finance… business… and learn how to oversee your own dang money… Who did a forecst of his financials and said.. hey.. in 15 years… you won’t be able to afford this based on your lifestyle and the fact that you don’t have enough revenue coming in.. Who said.. SAVE FOR RETIREMENT… and all these darn kids.. Seriously… it’s so many reasons why he’s in this situation.. His personal financial situation isn’t complicated… if you all would stop stealing from him and allowing him to do this crap then maybe you would be better off.. why have an advisor if they don’t advise you to do what’s TRULY BEST FOR YOU…

Ivory

July 10th, 2012
10:31 am

Good area for a rooming house!

Captain Midnight

July 10th, 2012
10:32 am

Hey George, if you feel so sorry for him, give him some of your Grill fortune.
I’d rather be a great guy, than a promiscuous, stupid guy.
Lemme guess, those 12 women with 12 different kids just cheated ole Holyfield.

Evander Ia

July 10th, 2012
10:34 am

Evander need another title shot to get a few million to pay off all the millions in debts and all his baby mamas. He can still bring the heat in the ring baby.

itsme

July 10th, 2012
10:34 am

Hard to believe even a person coming from nothing to huge amounts of money can’t figure out that he doesn’t need 109 rooms.

"Lend Me Your" Tyson

July 10th, 2012
10:35 am

AND HERE I THOUGHT, I BIT OFF MORE THAN I COULD CHEW….

Captain Midnight

July 10th, 2012
10:35 am

@ Riches, It’s always somebody else’s fault. I think it’s Bush’s fault.

Temeka

July 10th, 2012
10:36 am

I agree with you Richestorags !!!!!

Marc

July 10th, 2012
10:39 am

Some people get rich but instead of building wealth, they spend. These “dream” homes may seem nice but the costs don’t stop once they’re built.

2ruff

July 10th, 2012
10:41 am

Geepers, where’s Reverand Dollar now that Evander needs him., Evander gave Dollar’s church some thing like 24 million………..
Gee last I heard Rev Dollar said to go fight another one to get some more for the church…
Thanks Dollar for all you do for us… the almighty buck rules in his church….

Evander you had it all and you wasted it…
Maybe an apartment is a bit lavish for him now. maybe a hotel room by the week would be enough.

Georgia girl

July 10th, 2012
10:45 am

RichestoRags, you are correct on all points. Having lived near his home for some 20 years and also following his career during that time, he received lots of wrong advice, as evidenced by the businesses that were started and folded. He couldn’t keep his zipper up, and couldn’t he figure out the women had a kid for the purpose of getting lavish gifts, a home and future child support and alimony? He also supported numerous family members and friends (a/k/a hangers-on) during that time.

History

July 10th, 2012
10:50 am

@RichestoRags and @Temeka – apologists for stupidity. Sorry, in light of SO MUCH history of athletes SQUANDERING their millions, you’d think more of these guys would wake up and plan accordingly from the start. Unfortunately, the “this won’t happen to me” mentality is alive and well and guys like Evander will continue to come and go, only to become part of a sad list of footnotes in the story of “what could have been….”

JacquieMX

July 10th, 2012
10:51 am

Sadly, I always knew Evander would face foreclosure on that home once his career was over. It just a matter of time.

allen

July 10th, 2012
10:52 am

Holyfield should have moved earlier while he had the chance. I think he is a great guy but he doesn’t need a house that big anyway. It is a great house but he just didn’t have the income to keep it. He can probably afford something much smaller.

drew

July 10th, 2012
10:54 am

What isn it wth these guys??? Make millions and blow it all on really stupid stuff..This is why we need education in iur country..so these guys can learn and understand business and finance…oh well…

p oh

July 10th, 2012
10:55 am

maybe a little harsh phil, but can’t disagree

ImAdude

July 10th, 2012
10:55 am

Evander…let me give you the premise of your next living arrangements. First of all, the property that your home sits on will cost $150/month to rent. There will be a neighborhood pool, however there will not be a Jacuzzi. We have no sidewalks but you can ride your bikes in the street. Rent will be due by the 5th each month and if you are late, we will send you a notice. We have a maintenance guy, Cletus, who lives on the property and can help you with any issues with your home. Finally…you are allowed to have pets, please try to limit the number of dogs to 10. We had one resident, Eustus, and his porch collapsed and killed all his dogs.
Again…I would like to welcome you to Shady Times Mobile Home Park. Our motto is….Living cant be much better in Shady Times.

dontunderstandathletes

July 10th, 2012
10:57 am

Some people have to learn from their own mistakes. There were many before him who lived the lavish lifestyle and lost it all: i.e. Hammer, Dennis Rodman.He did not learn from them. For as hardas some of these guys have to work to make”big”money, you would think that they would squander less and save more. And more importantly, learn that these women are only interested because it is a “sure payday”. Let’s see how many friends and girlfriends he has now that he is BROKE!!!!

Crap

July 10th, 2012
10:58 am

“…personal finances are complicated”? Right. Made money, blew money. Pretty simple. Would hate to hear what his ‘junior’ advisers say about it.

Down for the count!

July 10th, 2012
11:02 am

Phil’s right – yet another idiot athlete squandering instead of saving. How the heck can you feel sorry for these losers? I remember him bragging about the house on talk shows when it was being built. Also remember him boasting about catching a plane to fly back home to give his kid a spanking. What a moron!

L'il Clark Howard

July 10th, 2012
11:02 am

Wow.

Illegitimate Child Support sure takes out a bite of one’s budget, doesn’t it?

Hypocrite Hunter

July 10th, 2012
11:04 am

From the time he was just an upcoming fighter with a nobody lawyer named Boortz, not one person in his circle earned anything from thrift. His builders, bankers and real estate consultants all made profits on loans and properties, his agents made profits on transactions, his lawyers made money on transactions and negotiations. Ex wives and girlfriends made money being ex’s. New ones made money being new ones. Brokers made money making trades, not building wealth. Enough leeches can suck the life blood out of the strongest heart. Thanks for a great run, Evander.

L'il Clark Howard

July 10th, 2012
11:04 am

By the way…

Mike Vick still has HER PEAS.

Robert

July 10th, 2012
11:05 am

Richessto, “have millions of kids and divorce their moms…”
What? You mean people can only get pregnant if they are married?
Who would have thunk??

Hypocrite Hunter

July 10th, 2012
11:06 am

Amplification…not sure I was clear. I thought that fifteen or twenty years ago, when he was Boortz’ client, his stuff was pretty together. Afterward, things started to spiral…both up and down.

charles

July 10th, 2012
11:11 am

just another sad case of biting off more than one can chew . homes and children keep requiring monies long after they are built & borne.

Mike

July 10th, 2012
11:11 am

Phil’s comment isn’t harsh it’s just the truth. There have been many contributing factors to Holyfield’s financial demise such as poor advice from others but he is a grown man. It was his responsibility. No excuse. You don’t have to be a financial genius to know that a boxers career is short and that when you stop boxing the money stops coming.

logrhd

July 10th, 2012
11:11 am

im sure one of his offspring will help him out down the road(not sure how many he has) but hopefully one will be appreciative of who there father was and return the favor.

Enemas for Easter

July 10th, 2012
11:14 am

How much do you think an human adult arm weighs?

Shameful

July 10th, 2012
11:15 am

He should be ashamed – his first priority should be taking care of his numerous kids. Before buying anything at all, he should live in a dumpy studio until he pays off his debts. He should be working at Sonic and selling off all his stuff to make sure his kids are provided for.

Waffle House

July 10th, 2012
11:15 am

People should learn from his mistakes…..now the real question is why isn’t “friend” Creflo Dollar helping him out after all he gave Dollar millions years ago!!!

$wise

July 10th, 2012
11:16 am

Yawn! Just another same old, same old story about idiot athletes and their inflated egos. zzzzzzzzzzzzzz.

Monroe's First Redcoat

July 10th, 2012
11:17 am

Richestorags hit the nail on the head. In the mid 80s when I lived in Augusta and worked for a TV station there, I had the privilege of becoming acquainted with James Brown through our newsroom producer. It was much the same situation as Holyfield The Godfather of Soul was surrounded by so-called “advisors” who were nothing but a bunch of vampires who did their best to suck him dry. Holyfield has that coupled with an appalling lack of fiscal responsibility, and it has bought him down. I hate it for him, but he’s over 21 and a free man. He made his decisions, now he has to live with the consequences.

Sammy Davis, Jr

July 10th, 2012
11:19 am

Agreed. I get confused every Father’s Day too.

TeamNoSleep

July 10th, 2012
11:19 am

Blame it on Lebron……

Nobama

July 10th, 2012
11:20 am

Maybe Obama should bail him out and then he could completely wash away any sense of responsibility for being IRRESPONSIBLE…….

Be encouraged

July 10th, 2012
11:21 am

It really is unfortunate. Nobody wins here that really matters. It’s so true you reap what you sow, and it is harvest time for him. Hopefully he has maintained a relationship with his children and can now begin to heal the wounds and hurts of the past. This is simply a hard life lesson and is time to rise up and make better decisions in the future. Especially in today’s troubled economic environment any of us can fall, but we don’t have to stay there. Rise up and not let us be so callus and rejoice in one’s fall.

brick

July 10th, 2012
11:24 am

Always liked Evander, hate he has gotten himself into this mess. But the reality is most boxers end up just like him. Lots of blame to be passed around, promoters aren’t much more than robbers, agents, the “posse” that hangs around him, the women that see the chance to get their claws into him, add all of that to being poorly educated especially in regards to finance. But these agents and promoters are smart, they got their cut off the top, before Evander and all the others had a chance to spend it, get ripped off or taking care of their “friends”.

TG

July 10th, 2012
11:28 am

This is a sad occassion. I remember going to his house for the Fourth of July one year, along with a lot of other visitors. He welcomed the communtiy into his home. I think he’s a good guy who just got in over his head, not very bright.

Lessons to take away from this:
–If you have the funds, buy your house outright. That way, you’ll only have to worry about taxes and utilities.

–Men, after three kids, if you find yourself single, get yourself fixed. That way you can play the field without getting random women pregnant. And should you decide to marry (again), your prospects will be better. Most women of high caliber won’t accept a man with more than three kids, especially if they are by different women. (Sorry, it’s just the way it is.)

–Do initial lump sum gifts to your family/friends, then cut them off. You are not their ATM and they should be made aware of this in explicit terms.

–STOP GIVING AWAY YOUR POWER. LEARN WHAT TO DO WITH YOUR OWN MONEY. Clark Howard readily cautions against finanical advisors. Why do you need someone else to tell you what to do with YOUR money? At the most, get a consultant or something if you must, but you are responsible for your own money. Don’t allow someone to “oversee” your livelihood. STUPID thing to do!

haha

July 10th, 2012
11:33 am

WTF have any of you bums done in your life? :) no one cares about you, what you have to say or who you are.

Evander set his sights high and accomplished more than all of you combined will achieve in your life time.

He can’t take it to his grave so the point at which he relinquishes these material things doesn’t matter.

Vampire Bill

July 10th, 2012
11:35 am

Too bad really, Evander is known as nice guy who made a lot of mistakes. He used to let his ex wife live on the old mansion on his property. Shame he couldn’t of just kept that and just cruised ….

bob

July 10th, 2012
11:41 am

I love how everyone is all of a sudden a professional investor. The truth is, 80-90% of all lottery winners go broke within 5 years. Chances are, you people would be the 80-90%.

Brian K

July 10th, 2012
11:41 am

Why didn’t Jesus help him?

Poot Sandwich

July 10th, 2012
11:42 am

Stupid Evander. LMAO!!! HA HA HA!!