Reportedly, Lil Wayne sold his masters for $100 million to Universal Music Company.
As a result of a complaint brought to court for $20 million by Wayne's former boss, Ronald Sweeney, this detail has come to light. TMZ reports that Wayne hired him in 2005, Ronald Sweeney says, to help renegotiate his contract with Birdman and his business, Cash Money.
Wayne of course had a legal showdown with Cash Money over the last few years but then settled the lawsuit in May 2018, but Sweeney now claims he did not get paid what he deserved.
In the suit filed by attorney Ed McPherson, Sweeney says back in May 2018, Weezy asked him to fire Cortez Bryant (Weezy’s former manager) over a conflict of interest in a legal dispute involving Drake and Cash Money.
Sweeney did that and took over Bryant’s duties, even getting Wayne to raise his commission from 10 to 17 percent. But later, Mack Maine and Cortez Bryant allegedly “conspired to drive a wedge between Wayne and Sweeney.”
In the lawsuit, Sweeney mentions something interesting: Lil Wayne sold his masters to Universal Music Group for more than $100 million this past June. He is not asking for anything out of the deal but brings that up to prove that Wayne has the money to pay him. This deal has, of course, not been made public by either Wayne or UMG.
Weezy has not commented on the matter yet but interestingly, Wayne had also sued Ronald Sweeney for $20 million last year for charging him 10% attorney commission instead of the industry practice of 5%.
Lil Wayne recently dropped the music video for his song ‘Something Different’ from his No Ceilings 3 mixtape.
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