Back in late July, 50 Cent announced the formation of a boxing promotions company called TMT, aka "The Money Team."
Just recently, news surfaced that TMT Promotions is now defunct with any fighters signed under it moving over to Floyd Mayweather's own, Mayweather Promotions. But, that's not the end of Fif's career in boxing promotions. The hip-hop mogul has now reportedly entered into an agreement with Mayweather rival, Manny Pacquiao, for the launch of their own promotional company... together.
Manny Pacquiao's adviser Michael Koncz revealed the news to BoxingScene.com on Thursday (September 13), explaining that it was initially going to be 50, Manny, and Floyd launching the venture together, but that's no longer the case.
"50 Cent and I have been talking now for maybe the last two months," Koncz told the boxing website. "They approached us with the idea to form a promotional company. Initially it was going to be 50 Cent, Manny and Floyd. But right now I don't think Floyd is going to be a part of it. I explained the idea to Manny. We already have a promotional company, MP Promotions, and we have already done three separate promotions from Top Rank... on a smaller scale. I have to take the blame for that. I'm in charge of it. There's an element missing there, but I have so much to do with Manny -- that I haven't got that company to where I want it."
Koncz goes on to say that the unnamed company would shake things up on future Pay-Per-View events by having two fights, instead of four, and staging mini-concerts in between, to give fans a full entertainment experience.
"I think with 50 Cent, with his entertainment connections and his popularity there, combining that with Manny's popularity and expertise in boxing -- we can bring a new flavor to boxing," Koncz added. "We can excite some young boxers and I think we can sign some top quality boxers. I spoke to 50 Cent tonight and confirmed that we're going to go forward. Manny is coming here this weekend for other business, but we're all excited about it. With 50's influence in the music industry, we want to put a different flavor of the shows."
Further details were unknown at press time.
Pacquiao's next fight has been announced. It will be against Juan Manuel Marquez on December 8 at MGM Grand Garden Arena in Las Vegas, their fourth time facing each other. The Filipino boxing star last faced Marquez in November 2011, winning a controversial majority decision by a narrow margin.
As of press time, there was no word whether or not 50 Cent would be involved in the promotions of the upcoming fight. Stay tuned...