RingTV.com has learned that 50 Cent has dropped his contract with IBF featherweight titleholder Billy Dib, who was signed to the new promotional company formed by the hip-hop star (AKA Curtis Jackson) and Floyd Mayweather Jr., TMT Promotions, in July.

Sekou Gary, an attorney who has represented Jackson, contacted Dib’s legal representatives to notify the Australian boxer that his TMT Promotions contract has been assigned to Mayweather Promotions and that “50 Cent is no longer involved in boxing,” a source close to the situation told RingTV.com.

It is unknown if this action is isolated to Dib or a move that will involve all of the fighters recently signed to TMT Promotions, including super middleweight contender Andre Dirrell and featherweight standout Yuriorkis Gamboa.

Mayweather Promotions is owned by Mayweather, who has been rumored to be having personal and business issues with Jackson in recent days.

RingTV.com will have more on this story as it develops.