50 Cent's SMS Promotions Files For Bankruptcy

[Big Boss]

Huge blow for 50 Cent's boxing company SMS Promotions -- TMZ Sports has learned the rapper's company has just filed for bankruptcy.

50 started SMS Promotions back in 2012 ... and signed some pretty big names in the sport, including then-undefeated champion Yuriorkis Gamboa, James Kirkland and Olympic medalist Andre Dirrell.

But apparently, the boxing biz hasn't been as kind to 50 as it has been to others like his pal Floyd Mayweather ... because according to court docs obtained by TMZ Sports, the company filed for Chapter 11 on May 25th.

In court docs filed in Connecticut, SMS says it has between $100k and $500k in debts.

SMS just put on a fight in Connecticut on May 15th -- though it clearly wasn't enough to turn the company around.








http://www.boxingscene.com/50-cents-sms-promotions-files-bankruptcy--91495

 

[So-Chi]

When life tells you to stay in your lane...

nah but for real that could have been a L for Floyd.

 

[Axum Ezana]

i hope ward is okay over at roc nation.....50 broke already.......nikka tried to steal floyd from allah.....boxing just a different tropical jungle, nothing like the record industry ....
allah god father haymon black balls his enemies to death

 

[KENNY DA COOKER]

ANDRE DIRRELL EXPLAINS WHY HE PARTED WAYS WITH 50 CENT AND SMS PROMOTIONS TO TEAM BACK UP WITH AL HAYMON

I have faith in a lot of these promoters out here, but we all know Al Haymon gets the job done. We all know that he makes the right moves and does the best for his fighters. So strategically and prestige-wise, he definitely gets the job done and that's what I was aiming for. But getting out of my situation, any of these top promoter could've done the job. Like Dan Goossen, [Lou] DiBella, and just all these promoters out there.

I had a chance to talk to quite a few of them, but at the end of the day, Al Haymon, I made that move with him and I am VERY pleased to be fighting under his banner again," stated super middleweight contender Andre Dirrell, who talked about his decision to part ways with promoter 50 Cent and SMS Promotions in order to team back up with his former advisor, Al Haymon

. According to Dirrell, it was a move that was necessary for his career because the fight offers he was getting simply weren't good enough.
"I don't have nothing bad to say about it because, I mean, it's really just that. It was the fact that I was in a unique situation when it came to me and 50 cent. He tried to make moves for me that unfortunately he wasn't able to get.