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November 27, 2009

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Promoter says he plans to produce audit of Tyson transactions

Monday, March 2, 1998 | 3:12 a.m.

King said he would welcome "a full and independent audit of very transaction" he has had with Tyson.

Tyson announced a month ago he was splitting with King, who has brought him the biggest paydays in boxing history. Tyson said he was taking control of his own business affairs.

There have been reports that other promoters are trying to gain control of Tyson, who was banned from boxing by the Nevada State Athletic Commission last July. He can apply for reinstatement with the commission in July.

Tyson was banned after biting the ears of heavyweight champion Evander Holyfield in a fight at the MGM Grand Hotel-Casino in June.

"I really believe that all of this comes from the frustrations that Mike Tyson is feeling because of the suspension and his absence from the ring," King said in a statement from his Fort Lauderdale, Fla. office. "When you add that to the very bad information from would-be promoters who would like to own his promotional rights, it's easy to see how he could overreact."

King said Tyson has earned more money the past three years "than any athlete in the world." Tyson's earnings have been estimated at $140 million since he was released from prison on rape charges.

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