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The Louisville, Kentucky childhood home of Muhammad Ali and his family was recently sold to a fan of the former world champion heavyweight boxer at a price of $70,000.

The house was valued at a cost of $23,260 and it’s possible that its new owner, a Las Vegas real estate investor named Jared Weiss, could turn it into a museum.

Weiss officially bought the property back on Sept. 10 and said he’d like to restore it to the way it was when Ali, who went by his birth name of Cassius Clay back then, lived there with his parents and brother.

There’s already a state marker in front of the home which recognizes it as an historical property. The marker states that the boxer and his family resided there and attended nearby public schools.

It also says Ali’s values were instilled at the home while growing up in it. Ali has several residences around the nation in Phoenix, Barrien Springs, Michigan, and Louisville, but doesn’t currently reside in his hometown of Louisville.

The champion’s roots have never been forgotten though and they’re celebrated in the city at the Muhammad Ali Center, which is an educational facility and museum. It’s one of Louisville’s most-visited sites and Ali visited it earlier in the year when celebrating his 70th birthday.

Weiss said that he won’t rent the house put and if he can’t convert it into a museum he hopes to use it for some type of charitable function.

Steve Stephenson, the former owner of the house, was asking a total of $50,000 for the historical item of memorabilia. It’s a small white home which features a sagging porch overhang in the front of it and is located in the west side of the city.

The local neighborhood is filled with modest and neat homes. Greg Fischer, the mayor of Louisville, said he’s delighted that one of Ali’s fans has bought the home and the city is looking forward to helping make the house a destination which can spread his legacy. He added that Louisville is definitely proud to be known as the hometown of the Louisville Lip.

The president of the Muhammad Ali Center, Donald Lassere, was also pleased with the sale of the home at 3302 West Grand Avenue. He said it will always be an important historical city landmark and will always be tied to Ali’s legacy.

Lassere plans on giving Weiss a thorough tour of the Center where the new homeowner can learn more about Ali's childhood years and how they shaped him into becoming one of the most popular and recognizable people on the planet.

Ali became interested in boxing as a 12-year-old while living in the home after somebody stole his bike. The youngster wanted to catch the thief and “whup" him and a local policeman named Joe Martin took him under his wing and coached him at a nearby boxing gym.

Ali won the heavyweight championship on three separate occasions, but is also known for being somebody who truly believes in social and humanitarian causes. Former president George W. Bush presented him with the Presidential Medal of Freedom back in 2005.

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