On or off? An age-old question
Promoter: Foreman-Holmes fight still may happen
Posted: Sunday January 03, 1999 07:38 PM
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Foreman (left) called off his fight with Holmes because he did not receive most of his $10 million payment AP |
HOUSTON (AP) -- Don't count out George Foreman and Larry Holmes just yet.
Promoter Roger Levitt says the former heavyweight champs may still fight on Jan. 23. The 12-round match, scheduled for the Houston Astrodome, was called off Friday, according to Foreman's brother.
"George says it's off," Roy Foreman told The Associated Press, adding that Levitt did not meet the deadline for paying Foreman the remaining $9 million of his $10 million purse.
"They were supposed to have the money last week and they didn't have it," Roy Foreman said. "George gave them an extra week and they still didn't have it."
Holmes hadn't been told that the fight was off.
"I don't know what's going on," he said.
But Levitt said Friday he still expected the deal to be closed Monday.
"George Foreman will have his letter of credit," Levitt told KRIV television.
"Ninety-five percent of the financial markets have been away for the holidays," he said. "George knows the pressure we've been under and his lawyers have been extremely kind in working with us. Everybody is trying to get this on."
The match, scheduled for two weeks after Foreman's 50th birthday, was to carry a $39.95 closed circuit television price tag. Holmes, who was 49 on Nov. 3, had promised it would be worth the money.
"I appreciate George giving me the opportunity to whip on him a little bit," Holmes said when the fight was announced in September. "He says the same thing about me, so you got to buy a ticket to see it.
"This will be a classic. It's history. It's two men who over the decades never fought. Two men with lots of pride. Two men will give it all and only one will win. I'm sure that it will be me and George thinks it will be him."
Foreman, who became the oldest heavyweight champion when he regained the WBA crown at age 45 by knocking out Michael Moorer on Nov. 5, 1994, seemed eager for the fight.
"Larry Holmes was a second-rate fighter sparring for [Muhammad] Ali when I had my original career," he said. "This is the only time this fight could be made. This is the only time it is important."
At 99, the combined age of the fighters was believed to be the highest in boxing history. Holmes' career record is 66-6 and Foreman's is 76-5.
"I don't care if we're 900 years old," Holmes said. "You got two old guys almost the same age that are going to fight. We might not fight like young guys today, but we are going to fight."
That was if the money was in place.
The fight ran into trouble a week ago when one of its major backers pulled out. Levitt claimed a replacement backer had come forward.
On Thursday, the promoter said he was going through 'financial machinations' with the two fighters and that the letters of credit would be deposited by Monday.
"We had an extension for the letters of credit until the close of business Los Angeles time [Thursday]," Levitt said. "We might need another extension."
Foreman wasn't waiting. He received a nonrefundable $1 million deposit and Holmes got a $400,000 down payment on his $4 million purse.
Copyright 2003 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.
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