Mike Tyson, 58, made his professional boxing comeback last month when he had a bout against YouTuber-turned-boxer Jake Paul at AT&T Stadium in Texas. However, despite raking in millions (around $20m (£15.6m), the boxing legend now faces circumstances where he could lose a percentage of his earnings.

This is because Tyson is being sued in a London court for nearly $1.6 million (£1.25m) for allegedly breaking a deal to promote a gambling company after agreeing to fight Paul.

"Medier, a Cyprus-registered company that promotes online casino and betting company Rabona, is suing the former heavyweight champion and his company Tyrannic for allegedly reneging on the deal, which was agreed in January," reported Reuters.

"The true reason for Mr Tyson and Tyrannic's hasty and unlawful termination was because Mr Tyson had agreed a deal, sponsored by Netflix, to fight the influencer Jake Paul," the company's lawyer said in documents made public on Friday.

Tyson’s representatives released a statement to The New York Post in which they said: "It is the company’s position that Medier, Ltd. materially breached the terms of its license agreement on multiple occasions and in various ways," read the statement.

"As such, Tyrannic, LLC was well within its legal and contractual rights to terminate the license agreement for material breach in an effort to mitigate additional reputational harm to the Tyson brand."

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