Officials at the Nevada State Athletic Commission approved the rapper’s bid to become a sports entrepreneur at a meeting on Thursday.
The rap star, real name Curtis Jackson, applied for the license under the name of his new company, SMS Promotions, and his application was approved unanimously pending further information about his finances and his fighters, which he must submit to the commission.
50 Cent, who attended the meeting with his lawyer, revealed he had first applied for the license as former pal Floyd Mayweather, Jr.’s partner, but the pair had a falling out after the boxer completed a stint in jail this summer.
The rapper told commission officials, “He (Mayweather, Jr.) decided he wanted to do things differently, but I had already invested $1.5 million in acquiring fighters and I would like to move forward.”
50 Cent told the boxing bosses he has spent over $500,000 on his new promotions venture and has acquired former featherweight Yuriorkis Gamboa, featherweight Billy Dib and super middleweight contender Andre Dirrell under contract.
During Thursday’s hearing the commission approved the rapper’s bid to co-promote Gamboa’s bout with a to-be-named opponent on the upcoming Manny Pacquiao/Juan Manuel Marquez undercard.
Photo Credit Getty Images