50 Cent Starts TMT Promotions, Possible New Power with Floyd Mayweather Jr. Switch [Boxing]
The boxing world could now have a new heavyweight-boxing promoter. Curtis Jackson, aka 50 Cent, has started a new boxing promotion company called TMT. TMT stands for “The Money Team,” the group that Floyd Mayweather Jr. always promotes around fight time.
TMT Promotions was first licensed in the state of New York, where 50 Cent does most of his business, but was also recently licensed in the state of Nevada.
50 Cent will most likely take Floyd Mayweather with him, away from Golden Boy who was basically just getting a flat fee to promote fights. TMT may also end up replacing Floyd Mayweather Promotions, which is basically just a front for him to make as much money as possible. TMT is also looking to sign Yuriorkis Gamboa who is a featherweight titleholder and Andre Dirrell, who is a contender for the super middleweight title.
What has really separated Golden Boy Promotions and Top Rank Promotions from each other is the money that they have relative to everyone else. Top Rank is run by Bob Arum who has an estimated worth of $200 million, while Golden Boy is run by Oscar De La Hoya, with an estimated worth of $175 million. 50 Cent has made money through rapping and other entrepreneurial pursuits such as Vitamin Water. If Mayweather is going to get involved and throw money in to the ring, then TMT will have enough money to match up with the big boys.
50 Cent has already had twitter spats with Oscar De La Hoya on Twitter, making for an exciting probable rival. Fight fans can also now figure out if the Top Rank and Golden Boy beef is because the companies plain just don’t like each other or if neither wants to do fights with each other because they won’t make as much money. If the companies are just beefing then they will work with TMT, if they like money more, they won’t partner with TMT on fights.
The Sports Business Journal cites that Mayweather switching would be a huge power shift as Golden Boy has used Mayweather as a huge bargaining chip with HBO and Showtime in the past. Also, SBJ states that Golden Boy’s Richard Schaefer would like to arrange possible fights between each other’s fighters.
How legitimate TMT Promotions is will be based off how they proceed in terms of signing fighters. If they just stick with Mayweather and a small number of fighters who make money twice a year, then we can assume they are just serving them and their friends, which is totally fine. If they sign fighters that have buzz and appeal to the community 50 Cent is most likely marketing to, and get enough fighters, then they can be considered a power as they can fill the calendar with money-making fights.
Once again, we find that money doesn’t make Floyd, Floyd makes money.