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JACKSONVILLE, FLORIDA - SEPTEMBER 19: Mike Tyson looks on before the start of the Tennessee Titans at Jacksonville Jaguars at TIAA Bank Field on September 19, 2019 in Jacksonville, Florida.

Mike Tyson has an opportunity to come out of retirement for a pretty penny. The 53-year-old former world heavyweight champion was offered $20 million to compete in a single fight by Bare Knuckle Fighting Championship, as People reports.

Now, BKFC  President David Feldman tells MMA Fighting that the company has plans to increase the figure while offering Tyson a myriad of new incentives, including charitable donations.

“I think I know what we need to do to make this thing happen,” Feldman said.  He also added that the exact value of the contract was still being finalized.

“We’re not successful yet in making that Mike thing happen. But I don’t think the door’s shut,” Feldman said “He did say no immediately. But I think there’s room there.”

Tyson’s career began in 1985 and it ended in 2005 with a record of 50 wins, six losses, and two no contests. Forty-four of Mike Tyson’s wins came by knockout.

Tyson hasn’t fought in a match since then. He’s been currently working on his cannabis business, Tyson Ranch. However, earlier this month, the boxing legend noted his desire to compete again via a charity match during a chat with rapper T.I. on Instagram Live.

“I’ve been working out, I’ve been trying to get in the ring. I think I’m going to box some exhibitions and get in shape,” Tyson told T.I., according to Yahoo Sports. “I want to go to the gym and get in shape to be able to box three- or four-round exhibitions for some charities and stuff.”Fans of Mike Tyson will have to wait and see if the boxing icon will accept BKFC’s $20 million offer or more.

Glennisha Morgan is a Detroit-bred multimedia journalist and writer. She writes about intersectionality, hip-hop, pop culture, queer issues, race, feminism, and her truth. Follow her on Twitter @GlennishaMorgan.