Gamboa spoke publicly stating, “I will support 50. He has always been a good friend and supporter ” and, “Regardless 50 can count me in his corner no matter what.”
However, the boxing champ has now filed docs in SMS Promotions bankruptcy demanding the court void his contract with the company and let him be free to sign with another company.
Gamboa explained that he signed a contract with 50’s company back in 2012. The deal stated that he would be offered a minimum of 3 bouts per contract year. Per the deal, SMS would have the exclusive rights to produce, publicize, market and promote his fights. Further, the boxer agreed not to work with any other promoters or fight in any other matches not put on by SMS Promotions.
The boxer said that the company has failed to provide him with the 3 fight minimum required per the contract — however, he cannot terminate the deal without their consent and therefore he is stuck in limbo and his career is being ruined as a result.
The boxer said that SMS refuses to communicate with him or his legal team about the state of his contract and he believes they plan on continuing to breach their deal with him. He says he continues to put in countless hours training for a fight that probably won’t ever happen with SMS.
He pleaded with the court to terminate the contract with SMS and let him sign with another company so his career doesn’t die.
Then on October 21st, 50’s company fired back at Gamboa’s attempt to get out of his contract and demanded the court NOT void their agreement with him.
SMS explains that the deal the boxer signed stated they would provide him with 3 fights per year. The company states that since Gamboa signed with them they have secured him a total of 4 fights and another fight he refused.
They claim that Gamboa has changed his management team several times since signing with SMS and it has been difficult to arrange bouts for him and they blame his actions for making it hard on them to schedule fights.
SMS also blasts Gamboa’s claims he has not had substantive communications with them, saying they have talked to him numerous times since filing for bankruptcy and even negotiated a upcoming fight for him in December.
50’s company explains that Gamboa will be caused NO harm by waiting for the outcome of the bankruptcy. They also stated thatthey would suffer harm if he is allowed out of his contract because he is one of their top fighters. SMS is demanding the court deny his motion to void his contract.