50 Cent’s Boxing Promotion Goes Bankrupt

When Canelo knocked out 50’s fighter, James Kirkland, a few weeks ago, that could have been the straw that broke SMS Promotion’s back.

The company was supposed to be spearheaded by Floyd Mayweather, but when that fell apart, 50 had to venture out on his own and it just didn’t work out.

All his boxers lost in their most important fights and he just didn’t have the boxing infrastructure set up to maintain a successful business.

50 is a smart businessman and knows when to cut his losses. According to TMZ, he filed for bankruptcy and cited up to 500k in debt. We will see if he continues SMS Promotions in any way or will he drop it completely.

h/t BSO