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50 Cent faces major setback, as SMS Promotions goes bankrupt

50 Cent 26

By Matthew Bridge
Hip Hop Vibe Staff Writer

In 2012, 50 Cent decided to go into business with Floyd Mayweather, stepping up in the boxing arena. Together, they were behind the new company, Team Money Team Promotions. The boxing promotion brand was behind many big fighters.

50 Cent is a major boxing fan and he was a boxer as a child. While he was excited about working with Floyd Mayweather, but the business was not right and 50 Cent lost money. The end result was 50 Cent going into boxing, himself, with SMS Promotions.

Over the past three years, 50 Cent has signed such talent as Andre Dirrell and James Kirkland, among others. It looked like all was well with SMS Promotions on the outside looking in. But, things were actually going pretty bad for 50 Cent’s company, evidenced by the company filing for bankruptcy yesterday in Connecticut.

Source: TMZ

Follow Matthew Bridge on Twitter @dgfxla.

 

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