One-time heavyweight boxing champ Mike Tyson was once estimated to have amassed a $300-million fortune. But the troubled athlete – who served a three-year prison sentence for rape and was suspended from boxing for biting off a chunk of rival Evander Holyfield's ear during a match during the Nineties – seems to have once again fallen on hard times.
Tyson has apparently lost most of his millions, and has resorted to filing for bankruptcy to "bring order" to his finances. "As a professional fighter, who relied on others to manage his affairs, he discovered that his debts far exceeded his assets," his lawyer Debra Grassgreen explained. "Now, he has taken the lead in bringing order to his financial affairs."
His lavish spending – flash cars, sprawling estates and exotic pets such as tigers were among his many purchases – and extravagant gift-buying are said to be at the root of his money troubles.
The fighter, who recently agreed to a $6.5-million divorce settlement with ex-wife Monica, also has a $100-million lawsuit pending against Don King, claiming that the spikey-haired promoter cheated him out of earnings.
And his finances aren't the only issue causing problems for "Iron Mike". Tyson is expected to appear in court next month to face assault and disorderly conduct charges stemming from his alleged participation in a brawl at a New York hotel.
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