Lil Wayne‘s Young Money label has reached a settlement with Jas Prince in their court case where Prince claimed that he was owed $11 million in unpaid royalties off Drake.
The story goes that Prince discovered Drake and delivered the budding Canadian star to Young Money/Cash Money which eventually signed him. From there everybody was supposed to win and get money, but then paperwork and lawyers and miscommunication and you know the rest.
Lil Wayne’s Young Money and his manager, Cortez Bryant, have reached a settlement in a nasty legal battle with Jas Prince over $11 million in allegedly unpaid royalties made from rapper Drake.
Both sides hashed out a deal where Jas Prince agreed to dismiss all claims against the defendants in exchange for a confidential settlement.
Last year, Jas Prince sued Cash Money Records for breach of contract, accusing the record label of screwing him out of millions in royalties from Drake.
He explained he discovered Drake back in 2007. Jas then signed the rapper to Aspire Music Group who then got him a deal with Cash Money. The label agreed to pay 22 percent of all of Drake’s advances and net profits to Jas Prince and Aspire. Jas said in the suit that Cash Money owed him more than $4 million.
Lil Wayne’s label fired back, claiming they never had a deal with Jas and the contract was signed by Aspire and that’s who is paid Drake’s royalty checks. Cash Money contended that if Jas had an issue he needed to take it up with Aspire not them.
To add even more to the mess, Aspire is a company that was formed by Bryant, music industry veteran Gerald “Gee” Roberson and Derrick Lawrence. The company was founded in 2008 just to sign and manage Drake and he remains the only artist(s) on the “label.” Even though Drake has since severed management ties with the company, it still continues to get paid off his music to this day. Yes, that includes Views.
Continue reading to see the official court document.