50 Cent, who only announced the formation of his boxing promotion company, The Money Team, this past summer, is already calling it quits.

The music industry mogul took to Twitter to say he is no longer apart of, or down with TMT, and says he's selling his TMT jacket for $1. Instead, he has SMS Promotions, linked with his SMS audio headphone line.

Although he didn't give much of an explanation as to why TMT has disbanded, we can assume his new deal with Manny Pacquiao played a part.

Check his tweets detailing the situation below.