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50 Cent has turned to boxing, a sport he has been linked to for some time via his friendship with undefeated welterweight champion Floyd Mayweather, Jr., for his latest business venture. The rapper and mogul has founded a new boxing promotions company called TMT Promotions, Sports Illustrated reports.

TMT is an acronym for “The Money Team,” a loose collective of friends and associates of Mayweather. The company is licensed in New York and also plans to work out of Nevada.

For its first clients, TMT is reportedly courting former featherweight title holder Yuri Gamboa and super middleweight contender Andre Dirrell.

Plans for 50 to get involved in the boxing business have apparently been in the works for some time. In April, Mayweather teased the new business arrangement during a press conference for his fight with Miguel Cotto.

“I think he’s going to be involved on the promotion side,” Mayweather said. “We may even put him out there, let him fight on Pay-Per-View one time. So we don’t really know what the future holds, but he is getting involved with boxing.”