Report: Joe Frazier's gym for sale for $2.4 million

Former heavyweight boxing champ Joe Frazier's landmark gym in North Philadelphia is up for sale. The price: $2.4 million.

"A chance to own a piece of history," says the listing from broker Lisa Coakley of Washington, D.C.

Coakley said she was told that Frazier, 64, was "retiring from boxing," according to The Philadelphia Inquirer.

But Frazier's manager, Les Wolff, said Frazier is not retiring. Selling the building was only one option, Wolff said, adding that Frazier would consider a joint venture with a developer to refurbish the gym.

The gym, a former ballroom that is more than a century old, has trained aspiring boxers for four decades. When it was shuttered more than a month ago, Wolff said it was undergoing renovations. He also said it was possible the gym might move to another site.

Lawyers for the city announced last fall that they were suing the gym for $127,000 in back taxes. City records show the debt was settled in March.

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Information from: The Philadelphia Inquirer, http://www.philly.com