I'm destitute and broke: Mike Tyson

Former boxing champion Mike Tyson says he is "totally broke" after years of excessive spending but still leads a happy life.

Even after launching his own reality TV show 'Take On Tyson', the sports star said he was struggling to make ends meet, DailyStar online reported.

But the 43-year-old boxer is happy with his frugal way of living and is thankful to have been given a second chance at life with his third wife Lakiha Spicer.

"I'm totally destitute and broke. But I have an awesome life, I have an awesome wife who cares about me," Tyson said.

Asked if he had enough money in the bank, Tyson replied, "No, I'm totally broke. I had a lot of fun. It (going broke) just happened. I'm very grateful. I don't deserve to have the wife that I have; I don't deserve the kids that I have, but I do, and I'm very grateful."

Tyson is dad to five children including his 16-month-old daughter, Milan, with Spicer.

He has gone through a series of alcohol and drug-related arrests and his wild lifestyle led him to file for bankruptcy in 2003.