Rapper 50 Cent - real name Curtis Jackson - recently started up The Money Team Promotions (TMT) with his close friend Floyd Mayweather, and he seems intent on shaking up the boxing industry. Like many fans of the sweet science, 50 Cent realizes the sport isn't doing too well right now, but he's confident TMT promotions will be able to take boxing into a prosperous new era.
50 Cent officially received his promoter's license in the state of New York a week ago, and he's already signed top prospects like Yuriorkis Gamboa and Andre Dirrell. The former junior Olympian says it's just the beginning, and he's confident he'll be able to sign many more big stars in the future.
"We want to change boxing," 50 Cent said during a recent interview. "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."
Given 50 Cent's alliance with Mayweather and his past success in business, he shouldn't have any problems signing a stable of top prospects.
Besides establishing himself as boxing's pound-for-pound king, Mayweather's ability to generate revenue is second to none. "Money" is currently the highest paid athlete on the planet - something many young fighters would like to emulate, and he's a genius when it comes to marketing fights.
I expect big things from TMT promotions over the next few years, and I wouldn't be surprised if they find a way to surpass Golden Boy Promotions as the number one fighter owned promotion.
Jamie Pandaram, "50 Cent Outlines Business Plan, Vision of TMT Promotions"
Fight and fighter information from BoxRec.com
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