Mike Tyson splurges almost entire £16m Jake Paul fight purse on new mansion that includes a WATERFALL and private lake

MIKE TYSON splashed almost his entire earnings from the controversial boxing bout against Jake Paul on a new mansion.

Tyson, 58, returned to the ring for a professional bout for the first time since his retirement in 2005 to lock horns with the much younger Paul, 27, in November.

The YouTuber-turned-boxer defeated the legendary heavyweight via unanimous decision in a highly-criticised eight-round bout at the AT&T Stadium in Texas.

The bout attracted immense vierwership and profit thanks to the deal with Netflix, which streamed the live action.

It is not certain how much each fighter earned, but reports suggest Tyson left Arlington with $20million (£16m).

According to , Iron Mike splurged almost all of it on a new swanky pad.

Tyson and his wife Lakiha bought a lakefront spec mansion in Delray Beach for $13m (£11m).

The couple will be moving in a 12,286-square-foot, six-bedroom and nine-bathroom mansion on El Caballo Court.

The 2.7-acre Florida property was recently completed and it includes an 80-foot pool and spa, covered terrace, a bass pond with a waterfall, a gym, four-car garage and a private lake.

The boxing star's spokesperson Joseph Jonathan Schneider said: "This has been a successful transaction with all the parties demonstrating professionalism and collaboration.