50 Cent settles boxing lawsuit

Rapper 50 Cent has agreed to release boxer Ryan Martin from his contract.
Martin filed legal papers last year (15) requesting his contract be voided after the In Da Club star’s boxing company, SMS Promotions, filed for bankruptcy. The boxer claimed bosses there failed to promote him and he wanted to be free to work with other organisations.
According to Martin’s agreement, he was contracted to fight 20 bouts over five years, but he claimed they only arranged and promoted one fight. However, 40-year-old 50 hit back at the allegations, insisting he provided him with a boxing gym and training facilities. He also claimed he and his partners were planning to revamp the company after the bankruptcy was finalised.
50 Cent claimed Martin fought in 11 bouts and was featured in his music video as part of a promotional package. He requested to have the lawsuit dismissed, but earlier this month (Mar16) the parties reached an agreement.
According to TheJasmineBrand.com, Martin will be released from his contract but he will have to pay 50 Cent 20 per cent of his fight earnings over the next three years. The rapper will also receive a percentage of his signing bonus and sponsorship deals.