Rapper 50 Cent (aka, Curtis Jackson) announced on his Twitter account the separation from TMT (“The Money Team”) Promotions and unbeaten Floyd Mayweather Jr., in addition to a bout featuring one of his fighters, IBF featherweight beltholder Billy Dib, against Puerto Rico’s unbeaten Jayson Velez.

According to 50 Cent, Dib-Velez would take place on the Showtime-televsied undercard of the Dec. 1 Miguel Cotto-Austin Trout fight that is promoted by Golden Boy Promotions.

Cotto’s attorney and legal advisor, Gaby Penagaricano, said that he is working in a similar capacity on behalf of Dib (35-1, 21 KOs), a 27-year-old Australian fighter of Lebanese decent. Velez, 24, is 19-0 with 14 knockouts.

“I can confirm that we are in agreement in principle and that we are working through the documents and the contracts,” Penagaricano told RingTV.com. “But the fight is not signed yet. That’s the exact status of it. Plus, we are awaiting the IBF’s official approval as an exception of the mandatory obligation of Billy Dib.”

Dib signed in July with Jackson, whose promotional application under the banner of SMS Promotions was received last month by Nevada State Athletic Commission executive director Keith Kizer, who expects the application to be the subject of the NSAC’s mid-November meeting.

“We will have a big meeting in mid-November. Nothing is set,” said Kizer. “We probably won’t know the exact date until early November, but it will probably be around Nov. 15.”

Jackson had been attempting to become a promoter with Mayweather but that is apparently no longer the case, as Mayweather is not listed in the information provided, according to Kizer.

“TMT is over. The money team is no longer a team. So it’s SMS Promotions…. that’s it, that’s all. I’m no longer a part or down with TMT Promotions. SMSaudio,” wrote Jackson, whose call leters, “SMS,” represent his audio head phones line.

“If anyone wants a Money Team jacket, I’m selling mine for a dollar. The nap back hat comes with it. That’s a fair price. SMSaudio. I moved the fighters to SMS Promotions cause the other half of ‘the money team’ didn’t put up their $MONEY.”

Mayweather’s advisor, Leonard Ellerbe, CEO of Mayweather Promotions, could not be reached for an immediate comment.

“Let’s be clear on this, Floyd Mayweather is The Money Team,” Ellerbe told Fighthype.com, “and he’s always been The Money Team. He’s the beginning, the middle and the end of The Money Team.”

“Floyd Mayweather has been getting money long before anybody ever came around him and he will continue to get money for the rest of his life because he is the best,” said Ellerbe. “Not one of the best, but the best at what he does, and continues to be the best after a decade and a half. That’s why he’s the highest paid athlete in all of sports.”

Jackson already has obtained a license in New York, according to New York State Athletic Commission director Melvina Lathan. Kizer said the NSAC would be “looking for three things” in regard to an applicant’s qualifications for being a promoter.

“We’re looking at the background of the people involved and their personal history,” said Kizer. “You’re also looking at the financial wherewithal of the company and then you’re also looking at the ability of the company to do promotions. In other words, whether they have the business acumen to do promotions.”

Jackson also has signed former featherweight titleholder Yuriorkis Gamboa (21-0, 16 KOs), a Cuban Olympic gold medalist who could face Miguel Beltran Jr. (27-2, 17 KOs) at the MGM Grand in Las Vegas on the Dec. 8, HBO-Pay Per View-televised fourth bout between Manny Pacquiao and Juan Manuel Marquez.

A deal is close that would match Gamboa and Beltran, according to Top Rank CEO Bob Arum.

Gamboa has not been in the ring since last September, when he decisioned current WBC featherweight beltholder Daniel Ponce de Leon. Beltran is coming off a split-decision loss to Roman “Rocky” Martinez on the Julio Cesar Chavez Jr.-Sergio Martinez pay-per-view undercard.

Ellerbe offered this parting shot.

“In my opinion, I’m sure Top Rank is very, very happy and laughing their a**es off to be doing business with SMG Promotions. They got paid a whole bunch of money to release the fighter [Gamboa], they get to keep the money, and still get to use the fighter. Way to go SMG,” said Ellerbe.

“And Billy Dib is a world champion and a very nice guy, but I’m sure he didn’t sign up with SMG to be the opponent for, no disrespect, an unrated prospect on somebody else’s show. But we wish them nothing but the best in their new promotional venture.”

Click here for promoter licensing information in Nevada.

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Photo by Tom Hogan, Hogan Photos/Golden Boy Promotions

Lem Satterfield can be reached at [email protected]