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Nicolas Cage auctions mansion

entertainment Updated: Apr 05, 2010 20:39 IST
Tom Jones

Hollywood superstar Nicholas Cage is suffering from financial problems which have led him to auction his mansion to pay off a 11.2 million pounds mortgage.

The National Treasure star has been trying to sell the six-bedroom house, previously owned by Tom Jones and Dean Martin, for nearly three years. It will finally go under the hammer on Monday, reported Daily Star.

It was up for 23 million pounds but the 46-year-old actor has slashed the asking price in a bid to generate a quick sale. He has time until 10.30am on Monday to find a buyer or he will lose the Bel Air property.

Cage, who earns up to 13.2 million pounds for a film, has been in financial meltdown for months and has tried to sell his global property empire to pay off debts.

He is facing several lawsuits and is himself suing the former financial manager, blaming him for his problems.

The Oscar-winning actor is being sued by a bank for 1.3 million pounds and by a property company which claims he owes 2 million pounds in unpaid loans.

Cage's ex-girlfriend Christina Fulton, mother of his 19-year-old son Weston, is also suing him for 8.6 million pounds for fraud and breach of contract.