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#1
08-03-2003, 10:18 PM
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Tyson Files For Bankruptcy
04/08/2003 08:13 AM
Reuters Troubled boxing champ Mike Tyson, once estimated to be worth at least US$300 million, has filed for bankruptcy in an attempt to bring some order to his finances, his lawyer said on Sunday. Tyson, currently facing assault and disorderly conduct charges stemming from a scuffle in a Brooklyn hotel in June, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Manhattan on Friday, according to his attorney, Debra Grassgreen. The one-time heavyweight boxing champion - who served three years in prison in the mid-1990s on a rape conviction and was suspended from professional boxing for biting the ears of heavyweight boxer Evander Holyfield during a 1997 bout - opted for bankruptcy after years of financial mismanagement and free spending habits that burned through hundreds of millions of dollars in earnings. According to media reports, Tyson amassed and spent between US$300 million and US$500 million. "As a professional fighter, who relied on others to manage his affairs, he discovered that his debts far exceeded his assets," Sunday's New York Post quoted Grassgreen as saying. "Now, he has taken the lead in bringing order to his financial affairs." Tyson, nicknamed "Iron Mike," also blames ring promoter Don King for his financial ills, the Post said. Tyson has a US$100-million lawsuit pending against King that goes to trial in September, claiming King cheated him out of millions after he got out of prison in 1995 and went back to fighting for the promoter. Tyson's financial outlook has been deteriorating for some time and media reports have speculated for over a year that he would have to file for bankruptcy due to mounting legal fees and lavish spending on a series of homes and cars as well as clothing, jewelry and even pets such as pigeons, cats and tigers. In 2002 he claimed lack of funds prevented him from paying estranged wife Monica Turner Tyson US$10 million in a divorce settlement. During the divorce proceedings it was reported that Tyson had spent US$9 million on legal fees alone from 1995 to 1997, as well as US$230,000 on pagers and cell phones, US$410,000 on a birthday party, US$8,100 for the care of his pet tigers and US$65,000 for limousine services alone. Tyson has also alleged that his ex-wife failed to send a promised multimillion dollar payment to the Internal Revenue Service and that Turner squandered millions on a lavish lifestyle. 
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#2
08-03-2003, 10:33 PM
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Honestly? I could really give two shits about Mike Tyson. IMO the man is a worthless waste of life that does nothing but take up space. He beats women and has no respect for them, and is a complete idiot in all honesty. I hope he becomes homeless. Probably wont happen, but I hope for it.
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#4
08-04-2003, 03:41 PM
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You really do have to be an idiot to lose $500,000,000.
__________________
 Support America's dependence on foreign oil - drive an SUV! "At Ford, job number one is quality. Job number two is making your car explode." - Norm McDonald. If you find my signature offensive - feel free to get a sense of humor.
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#5
08-05-2003, 03:13 AM
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#6
08-05-2003, 09:01 AM
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You really do have to be an idiot to go to jail for rape when you can afford to buy the best hooker in town. You really do have to be an idiot to trash your opponent and then let himhand you your ass on a plate. You really have to be an idiot to squander your fortune,go to jail,make a second fortune,then blow that as well. You really have to be an idiot to do business with Don King.
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#7
08-05-2003, 09:24 AM
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Resistance Is Futile (If < 1ohm)
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#8
08-05-2003, 09:37 AM
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He is an idiot. Part of his problem is his lavious spending on exotic pets. Such as tigers. He also has some absurd amount of doves that he owns. Did anyone watch the Beyond the Glory on Fox Sports Net? It was a damn good show, really interesting. I have to admit though I really enjoy watching his matches.
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*Under Construction - New sig to debut*
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#10
08-07-2003, 09:48 AM
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#11
08-07-2003, 03:05 PM
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__________________
Support America's dependence on foreign oil - drive an SUV! "At Ford, job number one is quality. Job number two is making your car explode." - Norm McDonald. If you find my signature offensive - feel free to get a sense of humor.
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