Holmes received $3 million plus $500,000 in training expenses.
Spinks received $900,000 plus $100,000 in training expenses.
Holmes was a 6 to 1 favorite.
The fight was televised live on HBO.
A full house of 11,192 watched the fight in the Riviera's outdoor arena.
According to HBO punch stats, Spinks landed 318 of 697 punches (46 percent) and Holmes connected on 248 of 567 (44 percent).
Spinks became the first reigning World Light Heavyweight Champion to win the World Heavyweight Championship.
Holmes entered the fight with a 48-0 record, needing just one win to tie Rocky Marciano's all-time undefeated heavyweight record of 49-0. After the fight, Holmes said, "I'm 35 fighting young men and Rocky was 25 fighting old men. To be technical, Rocky couldn't carry my jockstrap." Holmes was heavily criticized for the remark, and he later apologized.
Spinks' victory over Holmes was named Upset of the Year by The Ring Magazine
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