It was just several weeks ago that 50 Cent announced the start up of TMT Promotions. A boxing promotion joint venture between the business mogul and long time friend Floyd Mayweather Jr. The two signed several boxers to the company including Billy Dib and Andre Dirrell.
Now comes news that TMT Promotions is no more. All of the fighters that were signed to the company have now been moved over to Floyd's own Mayweather Promotions, according to several published reports.
50 will continue working as a boxing promoter however. Manny Pacquiao's adviser Michael Koncz tells Boxingscene.com that Pac Man and 50 have formed their own promotional company. Mayweather was initially going to be involved with this new venture, but that is no longer the case.
"50 Cent and I have been talking now for maybe the last two months," Koncz told Boxingscene. "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 said that the new 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 much more interesting viewing experience. He also said the company would be looking to sign fighters soon.
"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."
Pacquiao's next fight will be against Juan Manuel Marquez on Dec. 8 at MGM Grand Garden Arena in Las Vegas according to the L.A. Times. It will be the fourth time these two have squared off in the ring.
No word yet on if 50 Cent and Pacquiao's new company will be involved in this fight