50 Cent’s Boxing License App Approved In Las Vegas

By BallerStatus Staff   /   Published 11/15/12

50 Cent

50 Cent was officially approved for a boxing promoters license by the Nevada State Athletic Commission this week, just two weeks after severing ties with Floyd Mayweather.

According to ESPN.com, Fif decided to launch his own SMS Promotions after a falling out with Floyd Mayweather, because  the undefeated boxing great failed to come up with his share of the seed money 50 said he promised to put up.

So, after their public split, the hip-hop mogul applied for the license under SMS Promotions, and his application was approved in a 5-0 vote of the commission on Thursday (November 15).

During the questioning process, 50 said he and Mayweather had previously agreed to go into the boxing promotions business together, but, when the boxer "came out of incarceration (on Aug. 3 after two months in county jail in Las Vegas) he decided he wanted to do things differently, but I had already invested $1.5 million in acquiring fighters and I would like to move forward."

Despite the betrayal, 50 said he and Mayweather had no written agreement between each other.

In all, the rapper said he spent $500,000 toward the company in addition to the money he spent in acquiring fighters. His roster includes former featherweight titlist Yuriorkis Gamboa, featherweight titlist Billy Dib, and super middleweight contender Andre Dirrell.

In addition to Vegas, 50 Cent was previously licensed in New York.

After being licensed, SMS was approved to co-promote Gamboa's bout with Top Rank on the Pacquiao-Marquez IV undercard. However, Gamboa will face an opponent to be determined because Miguel Beltran Jr. has dropped out.

  • http://theindustrydude360.com/ TheIndustryDude

    I respect 50 Cent business mind but not his sleezy ways. He tries to hard to live up to the real 50 Cent's legend. I think he's spreading himself to thin going in the boxing world.

  • disqus_xOFjOe2ASU

    Dont be a hater...

  • Guest

    50 cent is a good in business, everything he had touched so far turned into gold.

  • http://www.facebook.com/narayan.doherty Narayan Doherty

    50 cent is good with business, everything he touched so far turned into gold, he can definitely could make some bucks in the boxing world.

  • http://www.facebook.com/tbrozart Anthony Copeland

    I think that 50 should get a job at Mcdonalds they could use a bit of innovation with their burgers.Maybe even a rapping clerk or a new sports drink.

  • VocalLocalYokel

    Oh no, two dirtbags had a falling out. How sad.

  • planet gracie

    there is no business without sleazy ways................ask anyone in any kind of business

  • http://www.facebook.com/sam.ramirez.3950 Sam Ramirez

    It is good for boxing when you have sevral legitimate boxing promoters.

  • Franca Condo

    50 cent used FLOYD. WHAT A JERK !
    I will never listen to his music again
    really bad guy

  • Franca Condo

    50 cent used FLOYD.
    I will never listen to his music again
    really bad guy

  • jacks

    is very good at what he does and i give him respect for that but boxing i is getting it all wrong

  • ASAPP

    Fif is not my favorite rapper but I truly like his mindset. I like his ability to venture off into different directions because as he and many other rappers get older, rapping may not be the best job. So, people like 50, Jay Z, and Diddy are showing other entertainers that there are other avenues to travel that you don't have to be limited to just rapping.

  • http://www.facebook.com/muchoswagsmygod.msomyg MuchoswagsmyGod MSomyg

    oh man now he and floyd got beef? shit man..

  • john panzino

    yo all i can say is good luck if half the shit he raps is real he should do ok

  • http://www.facebook.com/demar.johnson.56 Demar Johnson

    Has 50 ever boxed ? or does he just watch it on TV?

  • david tuttle

    when you have a agreement whatever it is you stay with it you dont back out

  • AJ2449

    Yeah, he's surprised the hell out of me.. He's even selling those energy drinks now. (it's just a dumb fad, but he'll make a few millions while they're still popular).
    impressive guy.

  • Camilo

    Im a boxing fan and glad to see someone trying to help the sport grow,, 50 is a good entrepreneur and hope to see him help the sport grow... as far as him using Mayweather... Mayweather is a dirt bag a great fighter but a dirt bag on a personal level so dont feel sorry for him.. he should use his money to help people in need it would be nice to see him do something good for people and his fans instead of bragging about what he has and instead of posting vegas tickets of him betting hundreds of thousands dollars...just one of those bets would change the life of many...

  • johnsoae86

    Ya he used to box for years when he was selling dope on the streets. But he's not actually boxing, just being a promoter and an acquisition company. Just because you own Southwest Airlines doesn't mean you can fly a plane.

  • johnsoae86

    I consult businesses for e-marketing and strategic business plans, how is that sleazy?

  • Sad Day

    Live up to the Real 50 Cent's Legend? Really? That guy never made it out of Brooklyn. The other dude was right! Don't be a hater....

  • http://theindustrydude360.com/ TheIndustryDude

    Naw, not hating at all. I just think 50 a slime ball. He back stabs everybody who deals with him. Did you hear todays news that he was sleeping with Chris Lighty's wife?

  • JPforreal

    Did you miss something? Floyd backed out the agreement, not 50!