Rap Superstar 50 Cent Has Suffered A Blow To His Ego After Bosses At His Boxing Firm Filed For Bankruptcy.
The In Da Club hitmaker launched SMS Promotions in 2012 after a joint venture with pal Floyd Mayweather, Jr. fell through.
He signed fighters like former featherweight champ Yuriorkis Gamboa, James Kirkland and Olympic medallist Andre Dirrell to his brand, but on Monday (25May15), company executives confirmed they had fallen into debt by filing papers in a Connecticut court.
The legal documents, obtained by TMZ.com, reveal their losses are somewhere between $100,000 (£62,500) and $500,000 (£312,500).
50 Cent has yet to comment on the news. SMS Promotion's last fight was staged in Hartford, Connecticut on 15 May (15), when Reynaldo Ojeda beat Monty Meza Clay by unanimous decision.
More: 50 Cent Denies 'Difficult' Reports | Contactmusic.com
Reddit: 50 Cent's Boxing Promotional Company Files For Bankruptcy : Boxing
The ace partnership between filmmaker Paul Feig and actress Melissa McCarthy evolves into something formidable...
The life of a boxer has never been easy, but for heavyweight champion, Billy Hope...
Susan Cooper works as an analyst for the CIA; rarely out where the action is...
Paul (Jason Patric) used to be a major figure in the Las Vegas crime world...
An almost ridiculously strong cast and a witty script by the writer of Crazy Stupid...
This lively and engaging documentary may be set out like an informercial, but it teaches...
Jack Halcombe is an Alaskan State Trooper who determinedly sets out to find a serial...
Even though this crime thriller is based on a true story, it never feels remotely...
Ray Breslin is an expert in structural-security and has been able to break out of...
Jeremy Coleman is a firefighter who is looking forward to a night of celebrations with...
Vince Ferro is badly in need of money to support his family. His only source...
Working in television is a cut-throat industry, keep your figures up or get out. After...
Yet another retread of the Lock, Stock and Two Smoking Barrels, this London crime caper...
Watch the trailer for Dead Man Running Mr Thigo is a man you don't want...