Foreman Settles $100-Million Suit Against Holyfield
George Foreman has settled a $100-million lawsuit he filed against heavyweight champion Evander Holyfield and Holyfield’s promoter. The suit claimed that Holyfield and his promoter breached a contract worth more than $20 million.
Terms of the settlement were not released. The suit, filed in July in Houston, stemmed from Foreman’s contention that Holyfield, promoter Dan Duva and trainer Shelly Finkel breached a contract for Foreman to fight Holyfield.
Foreman claimed that a July 1 letter describing conditions of a rematch involving him and Holyfield was a legal agreement that led him to drop negotiations for a $20-million fight against Mike Tyson.
Holyfield backed out of the match with Foreman one day after Duva and Foreman’s promoter agreed to the terms. Holyfield later announced that he would fight Tyson in Las Vegas for $30 million.
Fred Hagans, who represents Foreman, said his client looks forward to fighting the winner of the Nov. 8 Tyson-Holyfield match.
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