50 Cent Explains Rift With Mayweather

Rapper says boxing champ owes him $2 million.

Posted: 11/30/2012 01:15 PM EST
50 Cent; Floyd Mayweather Jr.

After his very public falling out with close friend and one-time business partner Floyd Mayweather Jr. earlier this year, 50 Cent has opened up for the first time about how the relationship collapsed. In his recent interview on Big Boy's Neighborhood, 50 said Mayweather reneged on their plans to run the TMT boxing promotions company together, leaving him $2 million in the hole.

"[Mayweather] changed his mind…as he was actually going in to jail, he asked me to help him with Mayweather Promotions," Fif recalled. "As he actually got in and I took a look, I realized there is no Mayweather Promotions: there's no LLC, there's no seals, there's no 'incorporated'…technically, Floyd is a Golden Boy fighter [referring to Oscar De La Hoya's promotion firm]. He fights on every Golden Boy card, they do all the footwork…so when he says, 'Help me with Mayweather Promotions,' and it's not there, I go, 'Okay, I know what he means: he wants me to put it together for him.'"

According to Fif, he did all the work to establish a joint promotions company, only to have Mayweather turn his back on the idea after getting out of jail.

"I do TMT Promotions, I get it all the way together…he comes home, and there's the, 'Let's get Floyd back in pocket' campaign that goes on, where there's $300,000 chains being bought and buying him the new Lamborghini…and I'm sitting there going, 'When are you going to give me the money?'…It's about [$2 million owed] at that point. When he finally does bring up the actual situation, he acted like he didn't know anything. Like, 'I didn't tell y'all to do that.' And he's looking me in the face."

Though 50 has moved on with his own promotions company, SMS Promotions, he has said that Mayweather remains "like a brother" to him and that he still feels protective of the boxer. Watch 50's full interview with Big Boy over at HipHopDX.

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(Photos from left: Al Bello/Getty Images, Chris McKay/Getty Images)

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