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

By 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.”

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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