Rapper 50 Cent now promoting boxing in Nevada
MGM Grand Las Vegas (Photo credit: Wikipedia)
Rapper 50 cent now promoting boxing in Nevada
Talented entrepreneur and Rapper 50 Cent promoting boxing in Nevada
Under his real name, Curtis James Jackson III, 50 Cent won approval, from the Nevada Athletic Commission, last week for a promoter’s license in the state of Nevada
He’s already hooked up with SMS Promotions. They are handling a December. 8 fight at the MGM Grand Garden Arena in Las Vegas featuring boxer Yuriorkis Gamboa and an opponent yet to be named.
50 Cent approved to promote boxing in Nevada
50 Cent had reportedly initially planned on forming a company with his pal, boxing great, Floyd Mayweather but the deal fell though.
The rapper told the Nevada Athletic Commission, according to 8 News Now, that those plans fell through with Mayweather, and the fledgling business that he hoped to start was being absorbed by SMS Promotions.
50 Cent obviously has no problem coming up with the expense of obtaining a license. And it is expensive.
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There are a number of start-up costs with the most expensive being $10,000 Promoter’s License and Refund Bond. Alternatively, the promoter can substitute a Certificate of Deposit purchased and retained by the Athletic Commission).
There are a number of fees. One is for background a check. Apparently, his prior arrests, one was for weapons, doesn’t matter to the Nevada Athletic Commission, as long as they get the almighty dollar, I guess.
What I don’t understand is why the charade then? Why make an applicant pay $500? Just my 2 cents 🙂
Once approved, there are many guidelines that must be adhered and many other expenses.
Here’s are 2 examples
TICKETS FEES
Promoters pay a 6% ticket fee on the gross sale of tickets and a 6% fee on complimentary tickets if they exceed 4% of the gross seating of the house, or are used to trade for services.
TELEVISION/BROADCAST FEES
You pay 3% of the first million dollars in television/broadcast revenue and 1% of the next two million. The television/broadcast fees cap out at $50,000.
Entrepreneur and Rapper 50 Cent now promoting boxing in Nevada. It should be interesting.
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