It looks like Lil Wayne is ready to head back to court for some more legal drama as he’s suing Universal Music Group over not being paid for finding and mentoring artists like Drake, Nicki Minaj, and Tyga!
Wayne, who’s real name is Dwayne Carter Jr., claims that UMG has paid themselves tens of millions of dollars that should be his in order to pay off the $100 million it advanced to Cash Money Records.
Carter’s lawyers have released a statement saying:
“With Universal’s knowledge of Lil Wayne’s rights to partial ownership and profits from those artists, Universal and Cash Money entered into a series of agreements which, among other things, diverted Lil Wayne’s substantial profits to repay debts of Cash Money. As a result, 100% of the profits that should have been paid to Lil Wayne as a result of his ownership of Drake, Nicki Minaj and Tyga records have been seized by Universal to repay debts that were neither incurred by nor were the obligations of Lil Wayne.”
Oh snap! The complaint claims that the rapper’s Young Money Label is a joint venture with Universal’s CMR and is meant to promote, manufacture, and distribute music of new recording artists that Wayne found. The 33-year-old believes that the agreement he signed with the company has the profits divided as followed:
“…51% – 49% between Cash Money and Carter, and ownership of all the Young Money Label property, (e.g., master recordings, copyrights, intellectual property, good will) similarly would be owned 51% – 49% between Cash Money and Carter, respectively.”
Oh man! A spokesperson for UMG has responded to the lawsuit claims by noting:
“It should be no surprise that we learned of the lawyer’s complaint through the news media. We don’t intend to dignify this with further public comment except to say that we will vigorously contest it and that the merits of our case will carry the day.”
What do you think of the rapper’s lawsuit claims?!
[Image via WENN.]