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Lil Wayne Reportedly Sold Young Money Catalog For $100M Back In June
Lil Wayne was allegedly making some major money moves behind the scenes this summer. According to Music Business Worldwide, the multiplatinum-selling rapper sold the Young Money catalog to Universal Music Group for $100 million in June. At least that’s what his ex-manager Ronald E. Sweeney who’s suing Wayne to the tune of $20 million says.
Sweeney filed the suit in California’s Superior Court on December 10, accusing Wayne of “failing to honor an oral agreement to pay Sweeney a 10 percent share of certain one-off windfalls.” The lawsuit states as Wayne’s “personal manager,” he was told he’d receive 10 percent of proceeds from three separate paydays — two lawsuit settlements plus the sale of “any master recordings owned by the Young Money [record] Label.”https://www.instagram.com/p/CIRWhRigoJZ/embed/?cr=1&v=13&wp=540&rd=https%3A%2F%2Fhiphopdx.com&rp=%2Fnews%2Fid.59601%2Ftitle.lil-wayne-reportedly-sold-young-money-catalog-for-100m-in-june-including-nicki-minaj-drake-masters#%7B%22ci%22%3A0%2C%22os%22%3A4150.859999994282%2C%22ls%22%3A3268.979999993462%2C%22le%22%3A3963.824999984354%7D
The court docs also reveal, “Specifically in or about June of 2020, Lil Wayne was able to sell the Young Money masters to Universal Music Group for in excess of $100 million.” This would include platinum-selling albums such as Drake’s Views and Scorpion, Nicki Minaj’s The Pinkprint and Wayne’s Tha Carter IV.
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