[Gina1201]

According to his attorney, Mike Tyson has filed for bankruptcy in Manhattan.

"As a professional fighter, who relied on others to manage his affairs, he discovered that his debts far exceeded his assets," said Tyson attorney Debra Grassgreen. "Now, he has taken the lead in bringing order to his financial affairs."

It has also been reported that Tyson puts part of the blame for his dwindling assets - once estimated at $300 million - on promoter Don King. A $100 million lawsuit is pending against King
claiming that Tyson was cheated out of millions of dollars at the hands of the promoter.

Also adding to the boxing star's financial woes are legal fees from 1995 to 1997 that have been
reported to amount to $9 million and his lavish spending habits which include a reported $410,000 on a birthday party, $65,000 on limousine service, and $8,100 toward the care of his pet tigers.