According to the Blast, Lil Wayne is walking away with an eight-figure settlement in his ongoing legal dispute with Birdman, Cash Money Records and Universal Music Group.
Court documents detailed in the report show the rapper and the record label CEO came to an agreement, which will have Universal pay Wayne an alleged $10 million and terminate his Cash Money contract. The parent company agreed to the payout because it is confident it will recoup the funds with Drake and Nicki Minaj’s rollout.
Universal will finally release the long-awaited Tha Carter V. The album was shelved when Weezy first expressed his desire to exit his record deal with Cash Money in 2014. Since then, the legal drama has been made public, with the “A Milli” rapper calling out Birdman for owing him money during numerous shows. Lil Wayne alleged that Birdman squandered $70 million of his $100 million advance money and bonuses from Universal Group.
Despite being spotted hanging out in March, there is no relationship between the pair, who used to refer to one another as father and son.
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Christina Santi is a news and culture writer for EBONY.com. Born and raised in the Bronx, New York, she considers herself a well-read, not so traditional feminist with a heavy interest in music, fashion and pop culture. Christina currently lives in New York City, where she refers to her Cuban & Jamaican descent often while writing about her experiences as a first-generation Afro-Latinx in America. She also devotes time writing personalized reading material for her tutees and turning ideas into words for streetwear brand, PUER By Noel Bronson.