Rapper forms a business partnership with world's highest-paid athlete
50 Cent is poised to launch a new career as a boxing promoter.
Last week (July 16), the New York City Athletic Commission awarded a licence to promote fights to the rapper’s company, TMT Promotions. The acronym TMT apparently stands for “The Money Team”, a nickname used by the entourage of world champion boxer Floyd “Money” Mayweather Jr.
Last month (June), Forbes named Mayweather Jr. the highest-paid sports star in the world, after he earned an estimated $85 million (£54 million) in 12 months. He is currently serving an 87-day prison sentence in Las Vegas for domestic abuse, but has previously been promoted on a fight-by-fight basis by Oscar De La Hoya’s Golden Boy Promotions.
On Wednesday night (July 25), De La Hoya reportedly used Twitter to take a jab at 50 Cent, posting: “Everyone wanting to be a boxing promoter? Good luck.” However, the tweet has since been deleted.
50 Cent – real name Curtis Jackson III – is said to have hit back straight away, tweeting to De La Hoya: “I don’t gamble floyd do, but I bet you won’t be promoting Floyd mayweather no more. TMT Promotions.” However, this tweet has since been deleted as well.
Speaking to sports website ESPN, Mayweather Jr’s business associate Leonard Ellerbe refused to confirm that the rapper has signed to promote the boxer. However, he admitted that the pair have formed some kind of business partnership, saying: “I think that Floyd and 50 coming together is great for boxing. You have two smart guys and when great minds work together, you can have nothing but great results.”
On July 6, 50 Cent gave away a free digital album called ‘5 (Murder By Numbers)’. He is expected to release his fifth official studio album, titled ‘Street King Immortal’, in November.