How can James Toney be skint?

[bennie]

His last fight was a huge payday with Evander Holyfield, but James Toney has just filed for bankruptcy (boxingtalk.net have broken the story). How can this be!
Is Toney self-destructing again?

[Southpaw Stylist]

I don't believe it personally.

Until it comes from the horses mouth I'll reserve judgement.

[Guest]

It's not that difficult once a certain type of people get money they start spending, and then can't break it as a habit. Look at Tyson, how much did he say he had $3000??? By the time he does actually fight, he'll probably be so much in debt he wont make any profit out of it.

[KOJOE90]

His last fight was a huge payday with Evander Holyfield, but James Toney has just filed for bankruptcy (boxingtalk.net have broken the story). How can this be!
Is Toney self-destructing again?

I hope this ain't true, Boxing has too many stories like this already. Like I've said many time before its a shame Boxers don't have a strong union to help them with fanancial management and their post-fighting life in general.

[MightyWarrior]

Maybe he had huge debts from broken contracts etc. There was that big fallout with his manager a few years back.
Good job he's at heavyweight now, by the end of the year he should have a few more millions in the bank.

[bigynzing]

Isnt it strange that you dont hear about many of the prominent promoters going bust....

Ok Matt Tinley...but thats just one.

[adamiw]

remember he didn't pay some tax or something last year and got fined for that, i assumed that he just couldn't be bothered to pay it, but maybe he couldn't afford it. He loves his food we know, and i expect he's the type who splashes out of things like the mad man he is. Still having said that, i'm surprised he's bankrupt. Maybe he wants to get out of of his contract.

[steve689]

Serves these idiots right if they squander there cash on stupid things? Didn't Tyson buy daft stuff like £250,000 diamond watches and stuff? If they have not got a reasonable business brain it's there own fault, they should replace there hangers on and back slapping entourage with intelligent folk and maybe they would get somewhere other than down cash converters, "How much for this Bengal tiger mate?"

[TerribleTerry]

Alomony payments of sportsmen in the US seem to be huge, perhaps he has a few dustbin lids that he has to shell out for evert month?

He was on Friday Night Fights during the Diaz-Burton match and looked in good shape and a good mood.

Looking forward to his comeback at heavy. He is gunning for the Klitschkos and I for one, would love to see him whip em. Good old fashioned skills over coming size/power.

[Loftgroov]

Drugs & hamburgers aren't cheap i suppose...