50 Cent is set to expand his already vast business empire with a new sports and entertainment venue in Shreveport, Louisiana.
50, who is already leasing a huge film and TV studio in the city, was given the go-ahead on Tuesday (March 25) for his new venture at a Shreveport City Council meeting.
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The rapper and businessman will take out a decades-long lease on the Stageworks building, with the plan to turn it into a state-of-the-art sports and entertainment venue.
The venue will undergo a partial renovation so that it can host basketball, volleyball, boxing and MMA events, as well as concerts, car shows and conventions.
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50 has been granted a 30-year lease on the building which can be extended by another 15 years, with his G-Unit Films & Television company paying a rent of just $200 per month.
He will also be responsible for all maintenance and operational costs.
After he was granted the lease, 50 said at the meeting: “I just want to say, in the short period of time, I’ve come to like the people of Shreveport in a different way. It feels like home for me, and eventually it’ll be home because I have some work to do.
“I remember [Councilman] Alan [Jackson], the first time I spoke to him after Humor & Harmony, the first thing he said was, ‘Well, what’s next?’ And I was like, ‘I think I need to talk to tourism. I think I need to talk to all of these other people to build it out.'”
He added: “I’m excited about building those things and I want to say openly to [Councilman] Jim [Taliaferro] that — I haven’t had to talk to you directly — I promise you, I’ll over deliver with Shreveport.
“Like you see, it was filled to capacity when we was here for Humor & Harmony. I have programs and plans for the facilities, so you’ll be able to look at the things that are happening throughout the year, and it’ll be actively used in a different way.”
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50 Cent also celebrated the decision on Instagram, posting a number of news headlines about the venture and captioning it: “All Roads Lead to shreveport! stop hating its show time.”
