From a legal standpoint, the boxing world and the entertainment world are not too different. Promoters of fighters make their money off of the talent and work of their fighters; record companies make their money off of the talent and work of their recording artists. Many people would say that neither the promoters nor the record companies give a shit about who they step on to make it to the top. And everyone will agree that, as long as the right contracts are in place and the money continues to flow upstream, it is usually the business owners that are making the majority of the money while the talent is taking what they can get.
Enter 50 Cent. Platinum artist, actor, entrepreneur, boxing promoter. In my humble opinion, 50 Cent's involvement is going to be the move that saves boxing as we know it. 50 will be boxing's answer to Dana White, and he just may bring boxing back into the public eye in the United States. His company, TMT Promotions, will be the first promotional outfit to mix sports and entertainment and cater to the UFC's main demographic, the 18 to 35-year-old male. I believe that 50's success will be based on the same model that made the UFC a billion dollar company:
- Obtain the right media outlets to collaborate with and to push TMT's events to the masses (TV, internet, and PPV);
- Find the right sponsorship partners for the target demographic;
- Give the fighters a fair shot at making a higher percentage of total revenue (because he has been on the gartisth side of recording deals);
- Be well capitalized. 50 has enough of a bankroll to sign top talent immediately, as evidenced by TMT's signings of Judah, Dib and Gamboa; and
- Most importantly, Money Mayweather -- flat out the best fighter of our generation and the biggest PPV draw in boxing. Having him aligned with TMT will make for immediate success, the same way De La Hoya and Hopkins did for Golden Boy.
In a landscape where the Heavyweight Division has no American prospects and where it is getting harder and harder to put two top fighters against each other for fear of taking a loss too soon in their career, having 50 throw his promoter's hat in the ring and bless the sport with his Midas Touch just may save boxing. Gregory Bloom, Esq. is a sports and entertainment attorney with ChaseLawyers in Miami, FL (www.chaselawyers.com). He has represented numerous high]level athletes in both boxing and Mixed Martial Arts, and has handled complex, high]profile contract negotiations, sponsorship and endorsement deals, and brand recognition opportunities for his clients.