Muhammad Ali’s WBC heavyweight belt from his 1974 “Rumble in the Jungle” fight was sold at auction on Sunday for $6.18 million, making it fourth-most expensive piece of sports memorabilia ever sold.
The winner of the heated competition for the belt was Indianapolis Colts owner Jim Irsay, according to Heritage Auctions in Dallas. The belt was sold for 13 times its $440,000 estimate.
In a tweet on Sunday, Irsay confirmed he acquired the belt for his collection of rock music, American history and pop culture memorabilia that is currently touring the country. The belt will be displayed on August 2 at Chicago’s Navy Pier and on September 9 in Indianapolis.
“Proud to be the steward!” tweeted Irsay, who acquired the belt from Troy Kinunen, an American businessman and avid collector of Ali memorabilia.
“After several hours of watching two bidders go back and forth over this belt, this proved to be a battle worthy of the Rumble itself,” Chris Ivy, Heritage’s director of sports auctions, said in a statement.
Presenting the belt ahead of auction, a Heritage Auctions spokesperson said: "Here we present the foremost symbol of that glorious achievement, the WBC Heavyweight Championship belt earned for Muhammad Ali's victory over George Foreman in the fabled 'Rumble in the Jungle'.
"Ali drained the thunder from the Foreman storm and then unleashed lightning of his own, dropping Goliath for the count and, finally, seven years after his title had been unjustly stripped, completing his long journey back to the mountain top of the sport.
"The historical significance of the piece, arguably the most important boxing award ever made available at public auction, is quite simply immeasurable."
Heritage Auctions Sells #MuhammadAli's #WBC
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