Evander Holyfield's Mansion Under Foreclosure

Update: The AJC has the story on Holyfield's response:

"I'm not broke. I'm just not liquid," Holyfield told the Atlanta Journal-Constitution Friday. "I do feel kind of sad because things have always been positive and now everybody wants to jump on me like I'm the worst person in the world and I went out and blew all my money."

Holyfield appeared on the verge of losing his home, which sits on 235 acres just south of the Fulton County line, after a foreclosure notice appeared in Wednesday's Fayette Daily News. Lien holder Washington Mutual, demanding full repayment of a $10 million loan, had scheduled an auction on July 1.

On Friday, Philip Hasty, an attorney for Shapiro & Swertfeger in Atlanta, the law firm representing Holyfield's lending company, confirmed that the estate is no longer up for auction. Hasty said that the change happened Thursday morning but he declined to comment further.

Holyfield would not elaborate on the foreclosure listing but said "everything is alright with the house now."

...

"He's got all kinds of obligations," he said. "It's no surprise he's having financial problems."

Sizable investments in a recording label and Christian television network -- the Black Family Channel based in Atlanta -- both soured. "He thinks everyone is as trustworthy as he is," Gainer said.

"That's the shame of it. He's a great damn guy."

This seems to be the situation with a lot of these "celebrity foreclosures" we've seen -- there are a lot of assets (hard to earn $248 million and have nothing), but no liquid cash to support all the payments.