Floyd Mayweather Reportedly Leaving Golden Boy For 50 Cent's TMT Promotion
Rapper 50 CENT “appears to be taking FLOYD MAYWEATHER JR., the world's top boxer, with him to his new company, TMT Promotion,” according to Kevin Iole of YAHOO SPORTS. 50 Cent even “got into a battle” with Golden Boy Promotions President OSCAR DE LA HOYA. Golden Boy has promoted Mayweather's “last six fights, though it had never signed Mayweather to a promotional deal.” Mayweather's company, Mayweather Promotions, does “not have a promoter's license” and as a result, “paid Golden Boy a flat fee” to promote his bouts. But if TMT Promotion does promote Mayweather's fights “without Golden Boy, it would be a massive power shift in the sport and a devastating blow to De La Hoya's company.” Much of the leverage it had over the last several years “with premium cable networks HBO and Showtime was because it worked closely with Mayweather” (SPORTS.YAHOO.com, 7/25). Golden Boy Promotions CEO RICHARD SCHAEFER said that there is “no animosity" between his company and 50 Cent. BOXINGSCENE.com’s Rick Reeno notes Schaefer “believes 50 Cent’s promotional venture is [a] very positive sign for the sport of boxing.” Schaefer said, “He brings a different audience, the hip-hop world and so on, to this sport. I think it’s terrific. I certainly wish him good luck. We know each other, we respect each other.” Regarding the possibility of Mayweather “severing his business ties with Golden Boy and working exclusively with 50 Cent’s new company, Schaefer doesn’t appear to be worried.” He is even “willing to sit down at the table, with 50 Cent, to explore a potential fight between” YURIORKIS GAMBOA, who reportedly will join TMT, and Golden Boy’s ADRIEN BRONER (BOXINGSCENE.com, 7/26).