50 Cent’s Boxing Franchise Bankrupted!May 26, 2015
G98.7FM Entertainment News
Mixed news for rapper/actor 50 Cent! His beloved boxing company SMS Promotions filed for bankruptcy yesterday, but hopes to revamp the heavily debted business in the near future.
50 Cent’s (aka Curtis Jackson) company which started back in 2012, had signed on some major heavy hitters in the sport such as then-undefeated champion Yuriorkis Gamboa, James Kirkland and Olympic medalist Andre Dirrell – but it wasn’t enough to keep the company afloat.
According to TMZ Sports, an attorney for SMS which is reportedly in debt between $100,000 and $500,000 says Jackson made the decision to file so the business could reorganize and emerge as a stronger company.
“Under the direction of Mr. Jackson, SMS Promotions looks forward to reorganizing as a new corporate entity and becoming one of the leading promotion companies in the world of professional boxing.”
Source: TMZ.com/Image: inflexwetrust.com
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