Douglas, King Settle Lawsuit; Title Fight Set

Heavyweight champion James (Buster) Douglas reached a settlement today with promoter Don King that clears the way for an Oct. 25 title defense against Evander Holyfield in Las Vegas.

The deal was officially announced at 9:42 a.m. by U.S. District Judge Robert W. Sweet as the trial of their lawsuit entered its third week. The details were finalized in a lengthy bargaining session which began over the weekend and ended at 2 a.m. today.

Under the settlement, King will not be involved in promoting Douglas’ first title defense, said Douglas’ manager, John Johnson. The Oct. 25 bout with Holyfield will be held at Steve Wynn’s hotel-casino, The Mirage, as will a second Douglas fight, he said. The original date for the Douglas-Holyfield fight had been Sept. 21.

King and Donald Trump received a flat cash payment to back off the Holyfield fight, but all sides had agreed not to detail the amount.

“The issue was emotional. The problem started in Tokyo. But once we got together and worked it out, it went away,” said a smiling Wynn, who left the courthouse with his arm around Johnson.

The hotel was Douglas’ co-defendant in the suit filed by King. Douglas has not fought since his stunning Feb. 10 knockout of ex-champion Mike Tyson in Tokyo.

The spiky-haired promoter will be involved in handling Douglas’ second fight, although not as the champion’s promoter, Johnson said. King will then retain right of first refusal to promote any additional Douglas fights.

“My rights are restored,” said King, who finally paid Douglas a promised $100,000 bonus for defeating Tyson. “I’m keeping my word on the fight in Tokyo. I’m a man of my word.”

Johnson, who has branded King a liar and worse during the trial, said they were pleased with the settlement.

“I’m very happy. I don’t care what he says,” said Johnson, gesturing at King. “He can say whatever the hell he wants.”

Douglas was not in court today.