50 Cent to Promote Boxer Floyd Mayweather

50 Cent is set to become the promoter for boxer Floyd Mayweather, Jr. when the fighter is released from jail on August 3rd, ESPN reports. Mayweather is serving an 87-day sentence for domestic abuse in Clark County Detention Center in Las Vegas.

The rapper's company TMT Promotions (a reference to "The Money Team," which Mayweather reportedly calls his crew) recently received a promoter's license from the New York State Athletic Commission. In the past, Mayweather worked with Golden Boy Promotions, though this was on a fight-by-fight basis with no long-term agreement.

Yesterday, 50 Cent exchanged some words on Twitter with Oscar De La Hoya,  boxer and president of Golden Boy whom Mayweather recently defeated in a much-watched bout. "I don't gamble, Floyd do, but I bet [that] you won't be promoting Floyd Mayweather no more. TMT PROMOTIONS," 50 reportedly tweeted, though that post has since been removed.

De La Hoya seemed to be responding when he tweeted, "Everyone wanting to be a boxing promoter? Good luck. Easier said then done."

TMT Promotions is also working on signing two other fighters, including featherweight titleholder Yuriorkis Gamboa and super middleweight contender Andre Dirrell. Last year, Mayweather was Forbes' highest-paid athlete.