Abandoned Arena Tied to Don King Hits Auction After Massive Foreclosure

Описание: Abandoned Arena Tied to Don King Hits Auction After Massive Foreclosure

Well, it looks like even legendary boxing promoter Don King couldn’t dodge this knockout punch—financially speaking.

A once-promising Florida property tied to King is now on the auction block after a $42.57 million foreclosure judgment. The property in question? A 52-acre site in Mangonia Park, originally home to an arena built in the 1970s. King had grand plans to revitalize it over the years, but the reality has been less glamorous: it's been mostly vacant since 1994, serving more recently as a parking lot for a Tri-Rail station.

Don King was originally listed as the guarantor on three defaulted loans totaling $32 million, but he managed to sidestep being included in the final foreclosure ruling. However, there’s a separate legal process still underway related to damages and guaranty, so he’s not entirely in the clear.

This property, which once held dreams of a grand revival, is now heading to auction on May 18th, under the oversight of the Palm Beach County courts. While King remains a formidable name in the world of boxing promotion, this real estate endeavor seems to be a bout he couldn’t win. The story serves as a reminder that even powerful figures can face setbacks when real estate ambitions go unfulfilled.

It’s the final round for this property—and the bell has rung.
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