And just like that, it looks as if 50 Cent will make his exit from the boxing promotions business. Per reports, SMS Promotions has filed for bankruptcy.
Initially started as a joint venture between fiddy and Floyd Mayweather Jr., SMS Promotions launched in 2012, signing boxers like then-undefeated champion Yuriorkis Gamboa, James Kirkland and Olympic medalist Andre Dirrell.
But, the business never took off, and on May 25th, the company filed for Chapter 11. In court documents obtained by TMZ Sports, filed in Connecticut, SMS says it has between $100k and $500k in debts.
SMS promoted its most recent fight on May 15th in Connecticut. The fighters haven’t exactly been lighting it up with their matches.
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