George Foreman vs. Joe Frazier II Norton by knockout in the first and second rounds respectively. Foreman, however, lost his titles to Muhammad Ali in "The Rumble in the Jungle" in October 1974, by KO in the eighth round. The following year, Frazier finally got his first chance to regain the heavyweight titles, challenging Ali in a fight dubbed the "Thrilla in Manila", though he lost by technical knockout in the 14th round. After his defeat at the hands of Ali, Foreman was out of boxing for over a year, sitting out all of 1975. He returned in January 1976 to defeat Ron Lyle and capture
The Rumble in the Jungle Ali and Foreman to sign separate contracts saying they would fight for him if he could get a $5 million purse. However, as King did not have the money, he began seeking an outside country to sponsor the event. Zaire's dictator Mobutu Sese Seko, eager for the publicity such a high-profile event would bring, asked for the fight to be held in his country. King had pulled together a consortium that included Risnelia Investment from Panama; the Hemdale Film Corporation, a British company founded by film producer John Daly and the actor David Hemmings; Video Techniques Incorporated of New York;