SMS Promotions Bankrupt !

[Icantspell]

50 Cent
Boxing Company Goes Bankrupt
6 minutes ago BY TMZ STAFF
EXCLUSIVE

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.

Story developing ...



Read more: http://www.tmz.com/2015/05/26/50-cent-boxing-company-goes-bankrupt-sms-promotions/#ixzz3bGvJeVlD

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[gho3st]

 

[kingdizzy01]

@ROFL_GUY

 

[Stay Seeking]

 

['Lando]

 

[Redwing80]

@LieutenantDan

 

[backbreaker65]

Fif cut that shyt before that shyt became a bigger money pit than it was. He only has one good fighter with potential. And Haymon blackballed him early on for fukking with Floyd. Take the L nikka and keep it moving.

 

[Krazy]

He was talking about Jay Z would fail, like he a seasoned vet in the Boxing business and knew what he was talking bout, now look

“I think they gonna clean Jay up," 50 told said convincingly. "The sport of boxing is going to clean him up and he’s going to find out it’s not like any other portion of business that he’s been involved in.”
“You can’t just buy your way into it by purchasing existing companies and stuff like that," he said. "You look at the roster of fighters…you have to have experienced people around to run it. But boxing is like the fur coat business…we don’t know how much they actually sold the jacket for.”

"Men Lie Women Lie Numbers Don't" - Jay Z

Even Tyson tried to warn you to stay out the business, nikkas is hard headed

 

[Da King]

@LieutenantDan @SpacelySprockets @50CentStan @Trey0'5Blue2Gz @ROFL_GUY

 

[really tho]

#SMSaudio



GOT THAT ANIMAL AMBITION TO SUCCEED

 

[Robbie3000]

This is going to stink up his SMS brand.

 

[MMM]

Need to get some #frigo before that fails

 

[OfTheCross]

8 out of 10 businesses fail in the first 18 months

 

[Buggsy Mogues]

@LieutenantDan @SpacelySprockets @50CentStan @Trey0'5Blue2Gz @ROFL_GUY

fukk

 

[AMcV'88]

Ross on the next joint..."that SMS money looking funny in the light"