Tyson takes a £2m bite out of SEM

THE chunk of flesh that boxer Mike Tyson bit out of world heavyweight champion Lennox Lewis cost the British fighter's management company nearly £2m on Thursday.

Shares in Sport Entertainment & Media, which handles Lewis's affairs, fell 6p to 55 1/2p, knocking £1.9m off its value, after the Nevada State Athletic Commission refused to grant Tyson a licence. The decision virtually rules out the prospects of the £70m fight going ahead.

SEM stood to collect anything up to £700,000 or 10% of Lewis' purse. That would have been on top of the £2.3m-odd it is expected to earn from managing the careers of boxing and soccer stars in the year to June. The company also represents Arsenal striker Thierry Henry, club captain Tony Adams, and TV personality Ian Wright.

Sources refused to rule out Lewis being matched against another fighter if the Tyson clash is definitely cancelled. However, it is unlikely that would be nearly such a money-spinner.