Holyfield’s Fayette mansion sells for $7.5 million

(Jason Getz, jgetz@ajc.com)

(Jason Getz, jgetz@ajc.com)

(Updated 7:46 p.m.)

Former heavyweight boxer Evander Holyfield has sold his Fayette County mansion, a senior advisor confirmed to The Atlanta Journal-Constitution on Friday.

The entertainment site TMZ reported Friday that Holyfield sold the mansion on Evander Holyfield Highway near Fairburn for $7.5 million on March 6, citing documents filed with the state of Georgia.

While not providing financial details, Tony Tortorici, the boxer’s senior advisor, said the Fayette home was purchased by J.P. Morgan Chase, “technically as part of a foreclosure. However, Evander continues to live in the house while options are being pursued. He is confident that an amiable agreement will be reached soon to resolve this situation.”

The advisor said Holyfield was traveling and unavailable for comment.

The sale ends Holyfield’s ownership of a palatial estate on State Highway 279. The  mansion has been among the sources of the boxer’s financial problems, which also include constant court battles over child support payments.

TMZ said the home was sold at public auction and that part of the proceeds will go toward settling back federal taxes. The entertainment site said Holyfield owes more than $14 million on the house.

“Evander Holyfield’s personal financial situation is complicated,” Tortorici told the AJC  in response to a list a questions submitted to him via email. “He and his closest friends and advisors are working together to resolve these issues as quickly as possible.”

The 109-room mansion near Fairburn sits on 235 acres. It features a bowling alley and theater. In a 2009 AJC interview, Holyfield said it cost more than $1 million annually to maintain.  An Atlanta Magazine article last year said 2010 taxes on Holyfield’s mansion was  more than $155,000 and the electricity bill was an “occasional $17,000.”

Holyfield also has been beset with child support claims. He has been sued for thousands of dollars in lapsed child support payments. The same Atlanta Magazine article said Holyfield owes “cumulative child support payments in the $500,000 range.”

Holyfield, who has 12 children by six women, has battled child support cases in Georgia, Texas and California. He has fought to renegotiate the payments, arguing that his income has fallen off since he left the ring, although he has been attempting a comeback.

“As for claims related to child support payments, Evander denied that any of his children have ever been denied anything that they wanted,” Tortorici told the AJC on Friday. “He recently was quoted as saying, ‘I love my kids and my kids love me. They have been well provided for and have never been deprived of anything. There is no closer bond between a father and his children than I have with my kids and no amount of irresponsible allegations can change that.’ ”

According to a bio on his website, Holyfield made more than $230 million in the boxing ring.

(Commenting closed)

71 comments Add your comment

john

June 9th, 2012
10:58 am

$14 millions says Vick screws up again this year.

CatLover

June 9th, 2012
11:00 am

In the beginning: ” I’m rich! I’m rich! I’m rich!!”
In the end: “What happened to all my money…..”

CREFLO DOLLAR

June 9th, 2012
11:04 am

I got my big house
I got my fancy rides
I got enough bling to make P. Diddy cry
I got my $5,000 dollar suits and my private jet.

And you sucka’s just keep comin back and drop more dough on my plate.

God, I LOVE America!

Shardinatasha

June 9th, 2012
11:06 am

Gold necklaces, “grills”, Escalades with spinning wheel covers, 109-room mansions…all bling for the Lifestyles of the Rich & Stupid.

Reality Check

June 9th, 2012
11:25 am

Don Vito hit the nail on the head. Don’t pity this idiot. Dude made more per fight in his prime than 99% of people will ever see in their lifetime. And he blew it because he’s an idiot. Plain and simple. Up yours, Evander. No one feels bad for you.

Trailboss

June 9th, 2012
11:25 am

Hate to give an anvil to a drowning man but this guy had such a big head until I feel sorry for his children.We saw him a the airport and some of the kid’s was trying to talk to him and since then if I looked at any of his fights it was the one’s I was hoping he was on the losing end.He’ll have time now to talk now since the lights are going dim.I see a lesson the same a$$ you kicked going up in most situation will the same a$$ you have to kiss coming downing.

Comeback!

June 9th, 2012
11:32 am

Evander want another title shot—he getting in shape and want his chance. He want another $30 million payday–the champ need to give him a shot in vegas.

MiltonMan

June 9th, 2012
12:04 pm

“LOL Bill Campbell ate boortz’s ass. Boortz has made sure that all copies have been deleted…….”

Idiot Bill ended up in jail for tax evasion, audit found him corrupt & he was disbarred. Takes a thug like you to think he “took it” to Boortz.

ad lee

June 9th, 2012
12:17 pm

It’s funny that most of the comments are purely negative about his private life, and possible financial decisions that you have no background info on. When a developer defaults on a loan to a bank on a building project it has no effect on his character, or credit. Dumb people have lots opinion on others affairs…..
If he has been able to hold on to such an elaborate property for close to fifteen years his short sale is no different from many people’s financial decisions to walk away from a bad financial “deals” in todays poor economic environment. For all we know he could be saving his investments from erosion due to unforeseen conditions related to “The Great Recession”.
You people need to get out of other peoples business, and get out of your backwoods, freedom to judge mentality. It does nothing but hurt people, and produces nothing!

sircharles

June 9th, 2012
1:38 pm

230 million was enough to live off the interest for many many years to come. somebody was ill-advised. 109 rooms mansion with bathrooms never used now, for that type of money, he needed only a 7 square feet with all of the toys and still be sitting on his money. Where is it..and now if JP Morgan and Chase has not put him out..what are they hiding?

Evander's Baby Mama

June 9th, 2012
1:40 pm

Where all my money evander owes me? I got lots of expenses–evander need to pay up.

Roadrunner

June 9th, 2012
2:13 pm

The problem with stereotypes is that they are sometimes true for a significant percentage which reflects badly on the whole. That’s true for all different kinds of people. Whatever category you fit into, you are negatively impacted when someone else also in that category “lives down” to the stereotype. Is there an element of racism & bigotry to this, obviously. But there’s also an element of truth. Don’t tolerate or defend bad acts by your peers, and more will realize you have to view people as individuals for better or worse. Just my .02.

Johns creek

June 9th, 2012
2:34 pm

seems to me that Evander is still living pretty well for a guy who has no money. Don’t be taken in, Evander is still wealthier than most of us.

swampjacket

June 9th, 2012
2:40 pm

Arbuck….Not that it matters much…but though closer to the city of Fayetteville, this house has a Fairburn mailing address…

RIVERBEND

June 9th, 2012
3:03 pm

niecey

June 9th, 2012
3:48 pm

he gave a large portion of his money to his pastor in atlanta. now the pastor is still living larger than life, in his palatial home, and flying on private jets!!!! Warning, to all the naive church folk YOU CAN NOT BUY A BLESSING!

agee

June 9th, 2012
4:52 pm

why not open it up for section 8 housing, we tax payers will wind up paying for it any way. rent that sucker out!

Alonzo

June 9th, 2012
4:57 pm

Sorry, but the 7.5M was the bid by JP Morgan Chase. If Chase held the mortgage, there is no money for taxes or baby mamas. He will be lucky if he is not sued for the balance due. I haven’t check the court docket.

The 12 children were not mistakes. They were the results of bad decisions. A well-constructed set of TRUSTS would have given Evander and the children security for the remainder of their lives. But when your ego is larger than your IQ …..WELL!!!

Christopher Seward

June 9th, 2012
5:28 pm

5:02 p.m comment by “OBAMA” nixed.

Re Evander and Creflo

June 9th, 2012
7:10 pm

Evander is a fool, just like all those women who slept with him. To have made $280 million and you have nothing to show for it? Stupid. Common problem with so many athletes, the black ones, especially, due to poor (on no) money management.

And, off topic…re: Creflo Dollar [where's the blog about that?], that daughter has had it too good.

I am not a megachurch aficianado, but I hope Creflo doesn’t wimp out tomorrow in front of the church. That child was smelling herself, and she got up in his face and he said oh hell no!… And she had the nerve to call the cops on him? OH no. No no!!

If she were mine, and did that to me, I’d say her summer would consist of:
Let the 15 y.o. party in her room with some books all summer!
NO Facebook–close her account completely.
NO Twitter–same, shut it down.
NO cell phone–confiscate it, and disconnect her cell phone number all together.
NO TV in her room.
NO computer access.
NO iPad, iPhone, iPod. Nothing. And Alex–her older sister–cannot lend hers.
NO parties, no BBQs or anything all summer!
NO allowance for the summer.
And she needs to work two days a week in a homeless shelter.
AMEN! and AMEN!

Gloria Y

June 9th, 2012
8:29 pm

What a pity that so many sports persons who earn millions of dollars are not clued in to money management and making wise personal decisions. To begin with, why does one need a house with 109 rooms, two five car garages, 135 seat movie theater and it goes on and on. Where is the plan for the future and consideration for maintenance, utilities, and everything that goes with home ownership, plus college expenses for his 12 children? Perhaps Mr Holyfield believed that he would continue his career successfully until he is 90 years old. Wonder how many housekeepers, maintenance men,etc he employed? No one should be sympathetic to him, stupid is as stupid does. Problem is that sooner or later we will be reading about other sports persons who will walk down the same path, and not use his example to avoid the same mistakes.