Comments Thread For: 50 Cent's SMS Promotions Files For Bankruptcy

[bigdunny1]

I feel bad for the fighters. They got screwed. If you remember he signed up a ton of fighters on the idea that him and Floyd were making a huge power move to cut Haymon out the loop. All these fighters signed with 50 while Floyd was in jail and then Floyd came out of jail and clearly Haymon or people close to him got in his ear and he pulled a 180 on 50 and pulled out. But it was too late fighters had a already signed on. Without Floyd's name being attached NONE of these fighters would of signed with 50 Cent and ruined their careers.

[bigjavi973]

So you are telling me SMS can still keep its fighters?

Sorry i dont understand how this **** works

http://www.moranlaw.net/chapter7.htm

chapter 7 bankruptcy info there...

They are allowed to "reaffirm"... basically they go "bankrupt" when they can't pay but can purchase those assets back by paying off


info on that
http://www.moranlaw.net/secured7.htm

[Mr. Miyagi]

50 made the mistake of going into the boxing business. Everyone knows all of the money is in karate.

The United League of Karate is the best up and coming combat league.

[deanrw]

See most celebs, are usually not very business smart. They are used to just signing their name to a brand, and getting a piece of the profits. They never see how it takes money, to make money.

50 probably thought I will just start this up and money will roll in due to his name. It takes work, money and commitment. He showed none of it.

Jay Z hired people, who are in the boxing biz, to run his boxing biz. He is investing in his company. It may work out or it may not, but at least he is going about it the right way.

[BoxingJunkie]

Roc Nation next. These rappers think just because they have money, they can come into the fight game and head straight to the bank. Nope.

Not so fast. ROC Nation Sports approached boxing and other sporting venues COMPLETELY different than SMS Promotions and ROC Nation's bankroll is far larger than SMS. They did have a misstep with the Gary Shaw fallout situation but I'm not so sure they will suffer the same fate as 50 cents.

[billeau2]

50 50 50....Now assuming 50 is somewhat of a G, assuming....lets look at some comparables: Succesful rappers, flocka wacka, little wayne, JZ...., tough guys? well....controlled by the likes of some top dogs who own the record companies and who are marginally more viscious.

Now lets look at boxing promoters: Don King. I hate the man but all the hard assed ***ish gangsters in Cleveland couldn't take King out. King killed at least twice. Then you get the well educated and well connected....all apex predators Al H, Arum, etc. NO PLACE for a rapper!

You don't see King and Arum dressed like girley men, no. 50 needs to go back to headphones and talking smack about other posers, because in the land of the apex predators the little fishes get swallowed up and pretty quickly!

[KnockoutKings]

Not so fast. ROC Nation Sports approached boxing and other sporting venues COMPLETELY different than SMS Promotions and ROC Nation's bankroll is far larger than SMS. They did have a misstep with the Gary Shaw fallout situation but I'm not so sure they will suffer the same fate as 50 cents.

Good points, we shall see what happens. Not everything JayZ touches turns to gold. I tried Tidal, it sucks. Maybe it a good concept but the actual app sucks ass. There is nothing that makes me want leave spoity at 9.99 per month.

We'll see how these two shows with Cotto and Ward go. So far, they are more closer to SMS than Golden Boy/Top Rank/PBC.

[billeau2]

See most celebs, are usually not very business smart. They are used to just signing their name to a brand, and getting a piece of the profits. They never see how it takes money, to make money.

50 probably thought I will just start this up and money will roll in due to his name. It takes work, money and commitment. He showed none of it.

Jay Z hired people, who are in the boxing biz, to run his boxing biz. He is investing in his company. It may work out or it may not, but at least he is going about it the right way.

You correctly identify that Jay Z is not involved...good deduction. the other thing is deep pockets, of which Jay's are a lot deeper than 50's. If you have a business that has a toehold in boxing its different than being a fight promoter per se. Fight promoters are evil bastards. Watch how quick Haymon drops Floyd like a bad habit when Floyd retires. Fiftties idea of a mean spirited gesture was to talk some shizle to hip hop nation, Don King's idea by contrast was to stamp on your head until your brains spilled out.

Oscar De La Hoya and Schaefer are a perfect example. The minute Schaefer became a liability.... and Arum? stealing from Pac, ready to throw pac under the bus in a new york minute if his shoulder became a liability.... Boxing promoters are more like Record Label owners, they will run their friend over with a car if their cheeseburger is ready!! At the end of the day fifty may have some stones, I don't know...but he did not have the intelligence, the ruthlessness, or the assets to play this game. Few do.

[aboutfkntime]

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.
[Click Here To Read More]

One word.....

LOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOOL

[aboutfkntime]

Can't believe fighters chose to join 50 Cent, who just got in the game, over joining Floyd or Haymon.

They were dumb as fcuk for not signing with an established promoter.