The In Da Club hitmaker launched SMS Promotions in 2012 after a joint venture with pal Floyd Mayweather, Jr. fell through.

He signed fighters like former featherweight champ Yuriorkis Gamboa, James Kirkland and Olympic medallist Andre Dirrell to his brand, but on Monday (25May15), company executives confirmed they had fallen into debt by filing papers in a Connecticut court.

The legal documents, obtained by TMZ.com, reveal their losses are somewhere between $100,000 (£62,500) and $500,000 (£312,500).

50 Cent has yet to comment on the news. SMS Promotion's last fight was staged in Hartford, Connecticut on 15 May (15), when Reynaldo Ojeda beat Monty Meza Clay by unanimous decision.

More: 50 Cent Denies 'Difficult' Reports | Contactmusic.com

Reddit: 50 Cent's Boxing Promotional Company Files For Bankruptcy : Boxing