![]() ![]() And so they said, ‘look, we’re gonna take this off, too.’ I wound up owing them two million dollars and I paid it and it was over. I’d make some money and I’d pay them and then next thing you know I would owe the money for so long they would say, ‘you’ve owed us for so long so we’re gonna decline you owing us this.’ So they would take seven or five million off. ![]() They thought I was going to fight it, but I had no intention of fighting it. “For some reason, they thought I was trying to make a deal to get out of this bankruptcy. “I had everything and now I’m $60 million in debt,” Tyson said. He said there was an easy way for him to get out of that debt – by not paying it. In an episode of his podcast, Hotboxin’ With Mike Tyson, Tyson said he was $60 million in debt. Mike Tyson Said Whenever He Hurt Someone, ‘My Life Gets Better’ Since that time, although my fight income, various asset sales and litigation recoveries have enabled me to pay a lot of my debt, I am still unable to pay my bills.” Tyson explains how he handled bankruptcy ”I have been in financial distress since 1998,” Tyson said in an affidavit, ”when I was burdened with substantial debt to Showtime, taxing authorities and parties to litigation. Tyson claimed he had been struggling financially since 1998. He owed $600,000 to several law firms, $500,000 to his financial manager, $800,000 to a former trainer, and the list went on and on. At the time, Tyson owed $13.4 million to the Internal Revenue Service. According to the article, Tyson had $23 million in debts. A New York Times article stated he had made $400 million in the last 20 years but still managed to blow it all. Tyson won his next three fights before losing two straight fights to Evander Holyfield and going 5-5 for the rest of his career. He won his first bout after his release, knocking out Peter McNeeley. Tyson was charged with rape and served three years in prison before getting back into the ring. After Mike Tyson was defeated by James ‘Buster’ Douglas in 1990, he bounced back to win his next four fights before he was sentenced to prison. ![]()
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