One man’s loss is another man’s gain.
And Rick Ross is paying a lot of cash to get what Evander Holyfield apparently could no longer afford.
The music mogul has dropped $5.8 million to buy the foreclosed Georgia mansion of the former boxing champ, according to RadarOnline.
Home sweet home: Rick Ross paid $5.8 million for Evander Holyfield’s 109 room Georgia estate
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Owners: The 38-year-old rapper moved onto the 235-acre estate of the former boxing champion.
The 38-year-old rapper purchased the mansion which Evander had to sell to a bank at a public auction as part of a foreclosure for $7.5 million in 2012.
The massive estate, spanning 54,000 square feet and situated on 235 acres, is the biggest single-family residence in Georgia.
The estate, which is outside of Atlanta, has 109 rooms with an astounding 21 baths and 12 bedrooms.
Unreal estate: The home is located just outside Atlanta
Grand: A palatial staircase leads to the second level
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Lots of room: The estate features 12 bedrooms and 21 bathrooms
Expensive: Evander allegedly had to pay a million dollars a year for maintenance of the mansion.A 350,000-gallon pool, a home theater, and a bowling alley are among the additional features.A seven-stall barn, a baseball field with lights and a scoreboard, an indoor pool, a separate boxing gym, a recording studio, and a guest house are all included, as if that wasn’t already extravagant enough.Holyfield originally stated that the house required more than $1 million in maintenance costs yearly, with a monthly electric bill of supposedly $17,000.The boxer’s financial issues, which also include ongoing legal disputes over child support payments, have been partly caused by the property.As reported by the Atlanta Journal Constitution, the 51-year-old heavyweight champion has fought child support issues in Georgia, Texas, and California. He has 12 children by six different women.
Take a dip: At 350,000 gallons, it has one of the largest private pools in the country
Stay warm: It also features an indoor pool for use during the winter
Unfurnished: There are plenty of rooms to experiment with decorating
View-oriented room: opulent drapes adorn the windows
According to TMZ, the house was put up for public auction, with a portion of the sales going toward paying back federal taxes.
According to the entertainment website, Holyfield owes the home more than $14 million.
Ross talked candidly about his purchase of the opulent mansion and his hopes that it will inspire young people in an interview with Revolt.
“It feels like, when I buy that property, I’m actually talking to some kids and sharing that same passion with them, and they’re looking at me and I’m telling them, ‘Hey, this is real,'”
“I think that should be seen by somebody.” That kind of inspiration is needed by someone. We will thus let the children from Miami, Atlanta, and New Orleans in and help them widen their perspectives.
Expensive: Evander sold the house to a bank as part of a foreclosure
Light it up: The home reportedly ran up monthly $17,000 electric bills
From above, the estate represents the biggest residence in Georgia.
The creator of Maybach Music Group is scheduled to release his most recent album, Mastermind, on March 4th.
The first track is called The Devil Is A Lie and includes Jay-Z.
It’s his sixth studio album, on which he also worked with Jeezy, Lil Wayne, and Kanye West.
Mogul: On March 4th, Rick’s new album Mastermind will be released.