50 Cent's relationship with Floyd Mayweather may be on the rocks.

After the Queens rapper came out recently and said that he and the celebrated boxing champ are no longer as tight as they once were, BoxingScene.com is reporting that Fif and Floyd's rival Manny Pacquiao are teaming up to form a promotional company. Earlier this summer, 50 created TMT Promotions, and now he's teaming with Pacquiao to form another promotions company. Mayweather was initially going to be involved, according to the report, but now his involvement is unclear.

"50 Cent and I have been talking now for maybe the last two months," Michael Koncz, Pacquio's advisor, told the site. "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 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 smaller scale. 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.

"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," he continued. "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.

"On pay-per-view events maybe we won't do four fights," Koncz added. "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."

50 Cent's album Street King Immortal is scheduled to hit stores on November 13. —Adam Fleischer (@AdamXXL)