Bare Knuckle Fighting Championship (BKFC) President David Feldman said on Thursday the controversial fight promotion would guarantee $30 million (US$20m) if Tyson agreed to fight one of the heavyweight fighters; on the BKFC roster.
"While we did make a guaranteed offer of $20 million for Mike [Tyson] to fight for BKFC, we're open to many different options as to how we can work together," he told heavy.com.
"Obviously, the excitement of seeing Mike's video showing himself training and desire to participate in exhibitions inspired us to reach out and make the offer."
Former heavyweight champion Shannon Briggs, 48, has already emerged as the man most suitable to meet Tyson in a bare-knuckle fight.
The 30 million offer would still be one of the richest paydays in Tyson's career, but would be a fraction of the staggering $US103 million he received for his iconic fight against Lennox Lewis in 2002.
Despite the years on the American star, Feldman says he is ready to offer Tyson a fortune to help build the BKFC into a global fight promotion.
BKFC is the only legal bare-knuckle promotion in the United States, but is still outlawed in most states, including New York and Nevada.
The rapidly growing blood sport remains outlawed in many countries around the world
The sport is on the up after a series of high-profile events, including the showdown between former UFC fighter and Conor MCGregor's training partner Artem Lobov and Jason Knight.
"It was a building year," Feldman told Sporting News recently.
"It was a year that kind of turned he corner for us. It was a turning year for us. And I think it put us into a semi-mainstream world of combat sports right now. I think by the end of 2020, mid-2021, is where we become a legitimate player in combat sports."
Australian boxing legend Jeff Fenech also poured cold water on the idea of Tyson heading Down Under, with the former superstar able to claim a much higher fee elsewhere. He also issued a warning to anyone wanting to stand in front of the former "Baddest Man on the Planet".
"They're offering him half a million or a million dollars - he could get more than $20 million to do it in Saudi Arabia. Why would he come here?" Fenech said, per the Sydney Morning Herald.
"Let me tell you something. If he hits Sonny Bill Williams or Paul Gallen, he will be up for manslaughter.
"I'm serious. If he punched Paul Gallen, he could kill him. These guys have never been punched by somebody like Mike.
"You see what he's doing to the pads, imagine Mike hitting one of those guys with one of those uppercuts. More than likely they will be in the morgue the next day."
