IT appeared to be the promotional deal of a lifetime, but Billy Dib has been left at least $1 million out of pocket by rapper and would-be boxing promoter 50 Cent.

In 2012, Dib signed a three-year multi-fight contract with 50 Cent — one of the highest selling music artists of all time — after the latter formed a joint venture with Floyd Mayweather that would supposedly revolutionise boxing.

But 50 Cent, real name Curtis Jackson, fell out with Mayweather, who held rights to The Money Team promotional company, leaving Dib directly under the control of the rapper.

Dib says he was paid only a fraction of what he was owed by 50 Cent over six fights, and while he would not discuss figures, The Daily Telegraph understands it is upwards of seven figures.

And there’s little chance of Dib ever recouping that money after 50 Cent filed for bankruptcy last year, owing $45 million to creditors.

Billy Dib with American rapper 50 Cent. Source: Supplied

“We have no promotional ties, and thank God I’ve finally gotten away from 50 Cent,” Dib said.

“A lot of people would say ‘Why do you want to get away from 50 Cent, that would be amazing’, but it’s not amazing, it was very disheartening, sleepless nights, you wake up for phone calls and the guy would never answer his phone, it was possibly the worst career move that I’ve made in my life.

“But everything happens for a reason, that was what was written for me at the time, and it’s on to the next.”

The much-hyped deal with 50 Cent was supposed to have taken then world champion featherweight Dib to a new stratosphere in the boxing world, but instead left him hating the sport.

“My career was skyrocketing, things were going amazing, and then unfortunately - and when I say unfortunately I really do mean unfortunately — I signed for 50 Cent, who basically knew nothing about the sport of boxing,” Dib said.

Floyd Mayweather Jr. fell out with 50 Cent, leaving the rapper in control. Picture: Al Bello/Getty Images Source: Supplied

“And I really believe that it’s from that point, because when you get promised something and it’s not delivered, that disheartens you a little bit.

“And that’s what was happening to me, I was being promised certain things and I was only being delivered a quarter of what was promised.

“So that became very disheartening, and then you find that you’re fighting for money and you’re fighting for the love of the sport anymore, and that’s what happened to me.

“All cared about was fighting for world titles and defending them, it was for the love of the sport, it wasn’t about money, the money was going to follow.

“But then when you get promised a certain amount of money and you don't get paid that certain amount of money you start becoming very disheartened and that’s exactly what happened to me.

“I became turned off the sport, I wasn’t working as hard anymore.”

Dib says his hunger to box has returned. Source: News Limited

Dib announced that he would make a return to boxing on February 26 in Bankstown against Thai fighter Sukkasem Kietyongyuth (13-4, 8KO) at super-featherweight (59kg).

It will be his first fight since the passing of his wife Sara, who died last September from cancer aged 21.

“I tell people, ‘If you have someone in your life that you love, tell them you love them every day, because tomorrow might be too late’, and that’s the truth,” Dib said.

“We were supposed to get married in December but when Sara told me she had cancer I told her we need to get married straight away. Til death do us part really means something to me now, because it was only in death that we parted ways.

“But we became the best of friends.

“I really believe that there is angel on my shoulder.

“Sara knows how badly I want to win this fight, Sara knows how badly I need this for myself, and I think she is that angel on my shoulder, helping me to get through day by day.”