Coming to a City Near You: The Mike Tyson World Tour

Sept. 28, 2006 — -- Former two-time heavyweight champion Mike Tyson, who says he hates fighting, is getting back in the ring anyway, if only for an exhibition.

In need of money, the bankrupt Tyson, who squandered an estimated $300 million-plus in ring earnings, is scheduled to appear today at a news conference at the Chevrolet Centre in Youngstown, Ohio, to announce "Mike Tyson's World Tour."

Tyson, 40, is scheduled to face longtime sparring partner Corey "T-Rex" Sanders on Oct. 20, promoter Sterling McPherson told ESPN.com.

McPherson, who has known Tyson for many years, said the bout is the first of as many as 12 four-round exhibitions Tyson has agreed to take part in.

The bout will not count toward Tyson's official ring record of 50-6 (44 KOs), although the $29.95 pay-per-view card will also include other officially sanctioned boxing matches, McPherson said.

"I think the greatest thing Tyson can do for himself is to do this, go around the world and meet people who have never met a star or an icon like Tyson," said McPherson, who was in full hype mode. "And the prices will be right. Here in Youngstown, the top ticket is $200. That used to be the cheapest ticket for a Tyson fight. Here, you're talking about tickets for $25. Where can you see Tyson in the ring for $25?"

Tyson last fought June 11, 2005, when he quit on his stool after six rounds against unheralded Kevin McBride. Following the bout, Tyson announced his retirement.

However, boxing is what Tyson knows, and he needs money to pay off his creditors. That is why, for the past month, he had a gig at the Aladdin Resort & Casino in Las Vegas to perform public workouts with trainer Jeff Fenech in a ring set up just outside the casino's buffet.

The open sessions drew hundreds of fans and curious onlookers. Tyson would skip rope, hit the pads, work up a sweat and sometimes answer questions from the public.

"I truly hate fighting. I've got a bad taste in my mouth," Tyson told The Associated Press during one of the sessions. "I'm looking to make a buck like anyone else."