The former heavyweight boxing champion blew the $300 million he made in his ring career on everything from mansions to limousine rides to custom jewelry, according to federal bankruptcy papers he filed in Manhattan.
The New York Daily News says his wild spending left him $27 million in debt, including $17 million he owes on taxes in the United States and Britain.
"I have not fought recently, I have no other income," the 37-year-old said.
According to court papers, Tyson's debts include $13 million to the Internal Revenue Service and $4 million for British taxes, plus $51,949.42 in child support to Kimberly Scarborough, the mother of his 13-year-old daughter, Mickey.
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