Rick Ross just may want to re-route his plans to bring the "BMF" film to movie theaters ... getting the green light may be tricky considering he'd have to ask his No. 1 competition, 50 Cent, for permission!!!

Sources with direct knowledge of the existing contracts tell TMZ Hip Hop that 50 is the sole owner of both the "BMF" stories' TV and film rights -- and nothing is changing!!!

We're also hearing 50's G-Unit film division is already deep in production of Tammy Cowins' life story to continue the next official phase of his BMF franchise.

Cowins was a friend and business partner of Meech, in addition to being BMF Entertainment's CEO at one point.

The ship that carried the "BMF" series on Starz looks to have sailed ... earlier in the week, 50 rained on lead star Lil Meech's parade by posting their text messages while scoffing at the notion of a new season.

It was a moment that even 50's longtime rival The Game had to have a laugh at!!! 🫣

The bigger Meech and Rick Ross have been hanging tough in Florida since the ex-drug kingpin's release from prison last fall.

While Ross cannot possibly do anything in the arena of "BMF" films, he still has a movie-making opportunity via Meech's welcome home concert starring himself, Lil Baby, 21 Savage, Sexyy Red and many more.

Rozay's already promising to perform his "BMF (Blowin' Money Fast)" record at least 14 times.