Legal

Lil Wayne Suing Universal For Diverting Young Money Royalties To Birdman

By HHL Editors
pixel_start

Instead of paying Lil Wayne royalties on his Young Money artists Drake, Nicki Minaj and Tyga, Universal has been diverting those funds to pay off the money Birdman owes to the music giant.

That's what Weezy claims in a new lawsuit he just filed against Universal.

"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," states the complaint. "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."
Here's some background: In 1998, Cash Money received a huge advance from Universal, which was to be paid back with 20 percent of CM's future profits.

Then, in 2003, Lil Wayne formed Young Money under Cash Money. The terms of that deal gave Birdman 51 percent of YM's profits, with Wayne getting 49 percent.

What Wayne seems to saying in his suit is that Universal has no right to use 100 percent of his YM artists' profits to pay down Birdman's 20 percent -- since 49 percent of those profits belong to him.

Tunechi is seeking at least $40 million from Universal. This is separate from his suit against Baby, which seeks $51 million.

Universal denied that they owe Wayne anything.

"It should be no surprise that we learned of the lawyer's complaint through the news media," Universal said in a statement. "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.”
pixel_end
Posted In: Legal Lil Wayne Birdman

Discuss

Legal French Montana Owes The IRS A Lot Of Money French Montana Owes The IRS A Lot Of Money / Legal News Ty Dolla $ign Hit With Drug Felonies; Faces 15 Years Ty Dolla $ign Hit With Drug Felonies; Faces 15 Years / News News Cardi B Gets Stern Warning From Judge in Strip Club Assault Case Cardi B Gets Stern Warning From Judge in Strip Club Assault Case / News Tour Dates Lil Wayne Announces Which Cities Won Dates For His 'I Ain't Sh*t Without You' Tour Lil Wayne Announces Which Cities Won Dates For His 'I Ain't Sh*t Without You' Tour / Tour Dates Legal 2 Milly Sues Fortnite For Swiping "Milly Rock" Dance 2 Milly Sues Fortnite For Swiping "Milly Rock" Dance / Legal News Lil Wayne To Perform On "The Late Show With Stephen Colbert" Lil Wayne To Perform On "The Late Show With Stephen Colbert" / News