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Lil Wayne Reportedly Sold Young Money Catalog For $100M Back In June

By 258Mafia on December 18, 2020

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.