The Money Team (TMT) Promotions, a newly organized promotional company reportedly owned by popular rapper 50 Cent, in collaboration with Floyd Mayweather Jr., is making its presence felt in the industry dominated by Bob Arum's Top Rank Promotions and Oscar de la Hoya's Golden Boy Promotions.
After a brief "word war" on Twitter with Oscar de la Hoya, owner of Golden Boy Promotions, a few days ago, millionaire rapper 50 Cent (Curtis Jackson) broke the news about his plan to activate his newly organized TMT Promotions.
Reports show that TMT Promotions has so far obtained a license to stage boxing fights in New York, while a separate license is being processed in Nevada.
Most major boxing events are usually staged at Madison Square Garden in New York and in top hotel venues across the state of Nevada.
Aside from being co-owner of TMT Promotions, Mayweather is reportedly heading the list of fighters in its umbrella, which could also include Cuban exile Yuriorkis Gamboa and middleweight Andre Dirrell. Several aspiring fighters graduating from the Mayweather's boxing club are also expected to sign up with TMT Promotions soon.
Mayweather, who is serving a 90-day jail term for domestic violence, could be leaving Golden Boy Promotions when he gets out of prison next month.
TMT's latest recruit is Australian IBF featherweight champ Billy Dib, who told RingTV on Friday that he has signed the contract with TMT Promotions.
"Now that 50 Cent and Floyd have started their business, they contacted us in Australia and asked us if we would come over and speak with him," said Dib, a 27-year-old fighter of Lebanese decent who is 34-1 with 21 knockouts.
"50 Cent has basically flown us over here, and he showed us a lot of love. I like the sound of the company. I like the people that he has signed to the company. I'm really excited about the future and what the future holds for me in boxing with this company."
Meanwhile, Mayweather's chief adviser, Leonard Ellerbe, declined to comment on the reported junking of Golden Boy Promotions in favor of the newly formed TMT Promotions (h/t Yahoo! Sports):
TMT Promotions, The Money Team Promotions, is a wonderful idea from two very smart guys who have come together and are looking to do something very positive for boxing. This is going to be a great, innovative breath of fresh air that will have both short-term and long-term benefits for boxing.
At the rate TMT Promotions is gobbling top-rated fighters, it won't be long before boxers from either Top Rank or GBP will be seen sporting TMT badges.
Apparently, TMT will capitalize on its owners' huge financial resources and wealth of marketing and promotional talent. It will be interesting to see how TMT will alter the face of boxing, which has been controlled by the two giants in the industry for the longest time.
Will 50 Cent and Floyd outsmart Oscar de la Hoya and Bob Arum in the boxing-promotions arena?
Let's wait and see!