Turns out that 50 Cent wasn't just blowing virtual hot air when he tweeted that he was leaving Floyd Mayweather's The Money Team boxing promotions group. According to ESPN, the Nevada State Athletic Commission has tentatively approved a promoters license for Fif, who applied for the documentation under the name of his new company SMS Promotions.
ESPN reports that to complete the deal, 50 just needs to turn over his income tax returns, along with some other paperwork, including a letter stating that the TMT assets he shared with Floyd are now in SMS' name.
The former best buds engaged in a knock-down, drag-out Twitter feud earlier this month when 50 tweeted he was moving the TMT boxers to his own promotions team, "cause the other half of the money team .Didnt put up there $MONEY$..."
That's basically the same explanation that Fif gave the Nevada athletic officials, according to ESPN. The sports network reports that 50 told commissioners that Floyd, who spent time in prison earlier this year, came out of incarceration with new ideas about how he and Fif should move ahead with their business. Apparently, the guys disagreed, and 50 made his case, saying that he had already invested $1.5 million to acquire fighters and wanted to move forward on his own.
Fif is already licensed in New York City, according to ESPN.
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