The mother of one of his children, who is suing him for unpaid child support, has further compounded his problems. A Utah consulting company has also gone to court claiming the boxer failed to pay back more than a half million dollars for landscaping. A legal notice that ran on Wednesday in a small local newspaper said Holyfield's estate will be auctioned off "at public outcry to the highest bidder for cash'' at the Fayette County courthouse on July 1, The Daily Telegraph reported. The 5,000-square metres home - located on Evander Holyfield Highway - has 109 rooms, including 17 bathrooms, three kitchens and a bowling alley.
Meanwhile, Holyfield's handlers allegedly told the mother of one of his children that he would no longer be able to make his 3,000-dollar-a-month support payment.
Toi Irvin claims the boxer has already missed two payments, so she has gone to court seeking restitution.
Holyfield, the only four-time heavyweight champion, has at least nine children.
Holyfield's apparent financial problems are a familiar story in boxing.
Joe Louis kept fighting well past his prime trying to pay off a crushing tax debt. Sugar Ray Robinson admitted he was broke by the time his long career ended.
Mike Tyson has squandered most of the vast fortune he accumulated during a career that included two memorable fights with Holyfield.
Holyfield has likely made hundreds of millions of dollars during his 24-year boxing career, including a reported $US34 million ($A35.5 million) for his second bout with Tyson in 1997, the infamous "Bite Fight'' that ended with Tyson being disqualified for gnawing off a chunk of Holyfield's ear.
At the time, it was the richest fight in boxing history.