50 Cent, who just passed his decade milestone of being shot nine times also has to deal with some other unpleasant thoughts as his boxing promotion company “SMS Promotions” has had to file for bankruptcy court. This marks the first time that 50 Cent has ever had to file one of his companies for bankruptcy court as normally all of his products have been able to earn him a hefty profit.
None the less it seems that as boxing continues to decline in popularity, other industries associated with the sport are also being effected in the process. So much so that promotion companies have had to begin to shut their doors. Promotion companies help promote certain boxers so that tickets can be sold for their matches, so that television channels such as ESPN showcase their fight and so that the boxer gets paid as well. Professional Boxing is continuing to decline in popularity & fights are rare these days, the most notable in the last few years in Floyd Mayweather & Manny Pacquiao which only took place a month ago.
Mr. Cent hasn’t been able to find a solid boxer to promote for a long period of time which in return means that the company has had to continue to pay their bills without any profit coming back to the company. There is no word as to when the USA Bankruptcy Courts will see this case and if this company will be saved from its upmost destruction.
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