Evander Holyfield’s team says Mike Tyson has rejected a $25 million offer to fight in Miami on May 29.

The two former heavyweight champions fought twice in the late 1990s. Holyfield won the first via 11th round knockout before a third-round victory when Tyson was disqualified for biting during their rematch.

Talk of a third bout has escalated because of the rising popularity of showbiz boxing — a separate entity to professional boxing. Tyson’s exhibition against Roy Jones Jr., one of showbiz boxing’s biggest bouts to date, was reportedly the best-selling fight of 2020.

Tyson told reporters after the eight-round draw with Jones Jr. that he smoked marijuana before the fight, and enjoyed the show so much he wants to do it all again.

This suggested another box office showdown, and that an exhibition involving 58-year-old Holyfield, who has said he’s desperate to get his hands on the 54-year-old Tyson again, could materialize.

But just weeks after hinting that Tyson was avoiding the bout, Holyfield’s representatives have accused Tyson’s of refusing the $25 million cash guarantee.

A statement sent to Insider described “intense negotiations for several months” for a lucrative third instalment in the Tyson-Holyfield rivalry that would take place at the Hard Rock Stadium on the Memorial Day weekend.

“We thought this was a done deal but it quickly fell apart when Tyson’s people declined all offers,” Holyfield’s manager Kris Lawrence said.

“We were negotiating in good faith all along and it appears we just ended up wasting our time.”

Tyson returned to the ring last year. Photos by Joe Scarnici / Triller

The statement also said: “Tyson’s demands recently became untenable, and not what Mike Tyson had originally agreed on in direct conversations with Holyfield.”

It added: “While neither side has announced publicly that the fight is not going to happen, with negotiations at a standstill and the date rapidly approaching, it seems unlikely that this fight will occur as planned.”

Tyson’s representatives since argued that “this is not true.”

A spokesperson told the Fight Freaks Unite newsletter, which is put together by the former ESPN and USA Today boxing reporter Dan Rafael, that there was no 50:50 offer for a split of net profit.

“Tyson is focused on his fast-growing sports league, [a Martin] Scorsese-produced TV show and slew of other events and premium content,” the spokesperson added.

The Holyfield statement, Lawrence’s comment, and Tyson’s rebuttal follow an Instagram post from Tyson who distanced himself from Triller — the broadcast partner behind the Tyson vs. Jones event last year.

“There is no Tyson with Triller fight,” said Tyson. “I don’t know any Triller executives personally. I don’t have a deal with Triller or any head executive representing them for the next event.

“I am a partner in Legends Only League and my next event is with my league.

“I will never do another event or any business with Triller so anyone misrepresenting that they own the rights to my name or my next event isn’t true. I am not with or ever will be with Triller’s Fight Club.”