Former heavyweight boxing champion George Foreman has revealed that he is facing sexual abuse allegations from two women.

The women, who have not been identified, have claimed they were abused by the ex-boxer in the 1970s.

In an unusual move, Foreman released a statement announcing that the allegations had been made against him.

The 73-year-old said his accusers have been trying to get “millions of dollars” from him and his family for the last six months.

“They are falsely claiming that I sexually abused them over 45 years ago in the 1970s,” Foreman’s statement read.

“I adamantly and categorically deny these allegations.”

The Olympic Gold medallist added that he will now work with his lawyers to expose, what he called, his “accusers scheme” and defend himself in court.

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“The pride I take in my reputation means as much to me as my sports accomplishments, and I will not be intimidated by baseless threats and lies,” said Foreman.

“I don’t pick fights, but I don’t run away from them either.”

With a professional record of 76-5 with 68 knockouts, Foreman’s career earned him a reputation as one of the most fearsome punchers of all time.

In 1974, he famously lost his world title to Muhammad Ali at the Rumble In The Jungle event in Kinshasa, in the Democratic Republic of the Congo.

Twenty years later, he became the oldest man to ever hold the heavyweight championship world title after beating Michael Moorer at the age of 45.

He retired just a few years later in 1997 after losing to Shannon Briggs by majority decision.

His successful career was recognised in 2003 when he was inducted into the International Boxing Hall of Fame.

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