Squandermaniac Tyson files for bankruptcy
The former heavyweight champion has squandered nearly 300 million in ring earnings through lavish spending and bad advice. Tyson’s handlers said in a news release that Tyson has taken control of himself and wants to resolve his financial problems. They blamed his out-of-control spending habits and subsequent mounting debt on mismanagement by others.
“As a professional fighter, who relied on others to manage his affairs, he discovered that his debts far exceeded his assets,” Tyson’s attorney Debra Grassgreen said. “Now, he has taken the lead in bringing order to his financial affairs.” The fighter frittered away millions on mansions, Bentleys, jewellery, and even Bengal tigers, while buying extravagant gifts for his entourage. Don King also took a huge chunk.
