SEGI.TV sponsored Floyd Mayweather's TMT Racing
Another sponsoring that ended with drama
Edward Sylvan signed a sponsoring agreement with Floyd Mayweather's The Money Team Racing in 2022 while he was still in default with payments of $18,770,000 to Chip Ganassi Racing and another $2,500,000 to Core Sports for former sports sponsoring.
Sycamore official announced the sponsoring of the money team racing on May 31, 2022. The sponsorship included a premium sponsorship for the TMT Racing car #50 during 2022 Nascar Coca-Cola 600 race on Sunday May 29, 2022.
TMT Racing published a first teaser picture on May 24, 2022.
No details of the sponsoring were mentioned in the Segi financial reports.
Official Press Release
HOLLYWOOD, Calif., May 31, 2022 /PRNewswire/ -- Sycamore Entertainment Group, Inc. (SEGI) is pleased to restate that it was the premier sponsor of the Floyd Mayweather, TMT Racing's #50 car, for the NASCAR Coca-Cola 600 on Sunday, May 29, 2022...
Sycamore shared a press release on 31 May 2022
"I am excited to have SEGI.TV sponsor TMT Racing's #50 car for the Coca-Cola 600. The Money Team brand stands for excellence and always striving to improve, regardless of the challenges ahead - which is directly aligned with what we believe as we grow the channel," says Edward Sylvan, CEO of Sycamore Entertainment Group Inc. He goes on to say, "This opportunity is scarce in that the majority team owner and premier sponsor of a NASCAR team are both people of color, which speaks to diversity and inclusion in motorsports and is one of our core brand statements at SEGI.TV. We look forward to continuing racing and working with TMT brands going forward."
How the story developed...
TMT Racing published a first teaser picture on May 24, 2022
Edward Sylvan was also on site to watch the race live.
He met with Francisco García, former Sacramento Kings draft.
How it ended...
Edward Sylvan used Floyd Mayweather for segi.tv promotion
Edward Sylvan used Floyd Mayweather for segi.tv promotion
Edward Sylvan used Floyd Mayweather for segi.tv promotion
On March 9th 2024, Edward Sylvan shared a video of Floyd Mayweather promoting segi.tv. It was published on Edward Sylvan's personal twitter account and then retweeted via the official Sycamore Entertainment company twitter account. Many shareholders assumed that the video was produced in April or May 2022 as part of the former sponsoring agreement.
Floyd's manager prohibits the use of the video
Edward Sylvan used Floyd Mayweather for segi.tv promotion
Edward Sylvan used Floyd Mayweather for segi.tv promotion
Two days later, Brent Johnson, the CEO of ONE Entertainment most well-known for business dealings involving boxer Floyd Mayweather and also Floyd Mayweather's International Marketing Manager, replied to Edward Sylvan on twitter and requested to delete the video. Apparently, Edward Sylvan was not authorized to use the video. One can assume that Sycamore Entertainment has not paid TMT racing as agreed in 2022 and so the collaboration ended.