Ex-heavyweight champ Riddick Bowe files for bankruptcy

http://images.sportsnetwork.com/boxing/getty/men/2005/bowe_riddick.jpg Former heavyweight champion Riddick Bowe filed for bankruptcy protection while he tries to revive his career, listing more than $4.1 million in claims against him. He filed last week to beat a new federal that law took effect Monday, making it more difficult to cut debt through the bankruptcy process. Bowe's attorney, Paul Nussbaum, said his client's debts were tied to "business transactions and related litigation and liquidity issues." The statement said the 38-year-old fighter wants to restructure his debts so he can "focus on his boxing career." In the Chapter 11 filing, dated Saturday in U.S. Bankruptcy Court, Bowe listed assets of $1 million to $10 million. Among his creditors, Bowe listed a $3 million claim from a Vienna, Va. investment fund, $311,000 in claims from credit companies and $705,000 claimed by a California financial services company. The debts include $5,400 owed to Prince George's County and $104 claimed by a water utility. Bowe beat Evander Holyfield in 1992 to become heavyweight champion, a title he lost in a rematch the following year. He has a record of 42-1, with 33 knockouts. In 1998, Bowe was arrested for kidnapping his ex-wife and children from their North Carolina home. He served 17 months in a federal prison before being released in 2004. Bowe fought in 2004 and 2005, winning both bouts. He has been dogged by accusations that fighting has left him brain damaged. Last year, Tennessee rejected his application for a boxing license. Bowe sued to overturn the decision, and the case is pending. espn.com