As Def Sounds previously reported, back in July, 50 Cent started up TMT Promotions, otherwise known as The Money Team Promotions, and has obtained his boxing promotion license in New York state, and also applied for a license in Las Vegas. Now 50 Cent dumps TMT Promotions to join forces with Manny Pacquiao.

As reported by BoxingScene.com, 50 Cent and Manny Pacquiao will join forces to form their own promotional company, and TMT (The Money Team) Promotions will no longer exist now that 50 Cent has teamed up up with Pacquiao.

TMT Promotions was in talks to be a joint venture between 50 Cent, Floyd Mayweather, and Manny Pacquiao, but since Mayweather didn’t want to get involved, TMT is thrown out the window and Fif has teamed up with Pac Man to start a new promo company.

Pacquiao’s adviser Michael Koncz, told BoxingScene:

“50 Cent and I have been talking now for maybe the last two months. They approached us with the idea to form a promotional company. Initially it was going to be 50 Cent, Manny and Floyd. But right now I don’t think Floyd is going to be a part of it. I explained the idea to Manny. We already have a promotional company, MP Promotions, and we have already done three separate promotions from Top Rank…on a small scaler. I have to take the blame for that. I’m in charge of it. There is an element missing there, but I have so much to do with Manny – that I haven’t got that company to where I want it.”

Koncz continued:

“I think with 50 Cent, with his entertainment connections and his popularity there, combining that with Manny’s popularity and expertise in boxing – we can bring a new flavor to boxing – we can excite some young boxers and I think we can sign some top quality boxers. I spoke to 50 Cent tonight and confirmed that we’re going to go forward. Manny is coming here this weekend for other business, but we’re all excited about it. With 50′s influence in the music industry – we want to put a different flavor on the shows.”

He adds:

“On pay-per-view events maybe we won’t do four fights. Maybe we’ll do two fights and a mini-concert in-between or something. A different angle on it. People know Manny cares about other boxers and I think that’s going to be important when we go out and sign other quality boxers who may not know 50 Cent but on the other hand know Manny and know his generous character to other boxers.”

There has been rumors of friction between 50 Cent and Floyd Mayweather since Floyd was released from jail earlier this year, but there has been no confirmation that 50 teaming up with Paquaio is a result of issues between 50 and Floyd.

In other 50 Cent news:

50 Cent is working on part 2 of his Before I Self Destruct movie.

Co-star, Sasha Delvalle, of Before I Self Destruct 2 took to Twitter announced the filming of the sequel for 50 Cent’s 2009 film is underway.

Delvalle tweeted:

As of press time, that is all the information that has been revealed on BISD2… stay tuned to Def Sounds for any updates sounding the filming of 50 Cent’s new movie.