There are more layers to Lil Wayne’s recent business moves than we all thought. It has been seemingly confirmed that he sold the rights to his Young Money imprint.
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Last week, it was reported the Trump supporter had sold his master recordings for a whopping $100 million dollars. There were several layers to unpack with regards to this monumental sale when you consider that it was announced that he plead guilty to federal weapons charges. As spotted on Music Business Worldwide the New Orleans native actually sold the Young Money Entertainment catalog to his parent company Universal Music Group. His former manager Ronald E. Sweeney is claiming he was cut out of his rightful earnings which add up to about to $20 million dollars.
Sweeney’s lawsuit alleges that the “Leather So Soft” rapper legally granted the conglomerate rightful ownership to the all the albums released under his imprint. This includes some very key releases from Drake (including Scorpion, Views, Nothing Was The Same and If You’re Reading This It’s Too Late) and Nicki Minaj (including Pink Friday, Pink Friday: Roman Reloaded, The Pinkprint). Additionally some of Weezy’s later projects (Tha Carter IV, Rebirth, I Am Not A Human Being) also went under the hammer. According to the court filings the transaction will not effect Drake’s latest material (i.e. “Toosie Slide”) as he signed a new deal back in 2018 with Universal Music Group and Republic Records via his own October’s Very Own brand.
You can read Sweeney’s lawsuit, which claims he was the one to advise Wayne to sue Cash Money Records, here.
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Uproar: Lil Wayne Actually Sold The Young Money Catalog To Universal Music Group? was originally published on hiphopwired.com