Rapper and businessman Curtis Jackson, also known by his stage name 50 Cent, was granted a boxing promoter’s license in New York last week and has started TMT (The Money Team) Promotions. Jackson has also applied for a license in Nevada, which is still pending.
“We want to change boxing,” said 50 Cent, who’s amassed a $110m fortune in the music game.“The goal initially is to create a company by fighters, for the fighters, which breaks the traditional vibe of promoters taking advantage of fighters. We’re going to change the demographic also, appeal to the younger demographic.
“You look at UFC and MMA, when their festivities start the place is full, whereas the tradition in boxing is you wait until the main event starts. We want to put on cards where there are five main event fights, where there is entertainment from start to finish, cards that command attention all over the world.”
50 Cent is a well-known best friend of Floyd Mayweather and speculation has begun circulating that TMT Promotions will be handling Mayweather’s bouts once the champion is released from prison on August 3rd.
50 Cent and TMT have already contacted a number of young up-and-coming boxers and will be looking to challenge powerhouses Golden Boy and Top Rank for supremacy of the future of boxing promoting. TMT is said to be in negotiations with undefeated featherweight and former Olympian Yuriorkis Gamboa (who recently broke a contract with Top Rank, Mayweather’s former employer) and middleweight Andre Dirrell.
TMT Promotions can potentially have a huge immediate impact on the boxing scene, backed by the popularity of both Jackson and Mayweather. Despite mixed emotions from fans regarding Mayweather’s personality, Mayweather topped the list as the highest-earning professional athlete over the past 12 months. Add 50 Cent’s popularity as a rapper/entertainer, and there is no reason to think TMT Promotions will not be successful.
Jackson has mentioned that TMT is looking for their first event to be in November, which would allow time for training and could feature Mayweather’s return to the ring. If everything pans out look for a major shift in power in the ranks of boxing promoters that has been controlled by the likes of Top Rank’s Bob Arum and Golden Boy, and may finally bring the fans the fights they want to see with fewer politics than what has been the trend lately.