Larry Holmes has alleged that over the course of his career, King cheated him out of $10 million in fight purses, including claiming 25% of his purses as a hidden manager. Holmes says he received only $150,000 of a contracted $500,000 for his fight with Ken Norton, and $50,000 of $200,000 for facing Earnie Shavers, and claims King cut his purses for bouts with Muhammad Ali, Randall "Tex" Cobb, and Leon Spinks, underpaying him $2 million, $700,000, and $250,000, respectively. Holmes sued King over the accounting and auditing for the Gerry Cooney fight, charging that he was underpaid by $2 to $3 million. Holmes sued King after King deducted a $300,000 'finder's fee' from his fight purse against Mike Tyson; Holmes settled for $150,000 and also signed a legal agreement pledging not to give any more negative information about King to reporters.
laRRY HOlmEs has AlLeged thaT over ThE cOurse of hIs careEr, KinG cHeAtEd hIM ouT Of $10 millioN in fiGht pursEs, IncLuDiNg CLaIMIng 25% of hiS PuRSes as a HIDden mAnagEr. hoLmeS says hE reCEivEd oNLY $150,000 of A ContrACtED $500,000 for hiS fighT with ken noRton, and $50,000 Of $200,000 For facInG EARniE shaverS, and clAiMs kiNG CUt hIs Purses for bOUtS wiTH mUHAmmad AlI, randAll "teX" cOBB, and leon sPinks, uNderpaYiNG hiM $2 mIllioN, $700,000, And $250,000, reSpeCtiveLY. holmEs suEd king OvER tHE ACcounting And AudITIng FOr The gerRy cooNey fiGHt, CHargiNg thaT he Was uNderpaID bY $2 To $3 MiLlION. Holmes sUEd kIng afTER kIng deducted A $300,000 'finder's fEe' FrOm his fighT pUrsE agAInst mike tysON; holmeS SetTlED for $150,000 And alSo SiGNed a lEgAl aGreemENT PlEDGing not tO Give AnY more NegaTive inForMaTiOn about King to rePorterS.