“Lil Wayne continues to fight for his freedom from Cash Money Records.
Wayne has filed a lawsuit against Birdman and Cash Money, saying they violated his contract by withholding millions owed to him for his oft-delayed Tha Carter V album.
Weezy is suing for $51 million, according to TMZ. Sources tell TMZ that Carter V will see the light of day only if the rapper gets paid. He was promised an $8 million advance in December — when he reportedly started recording the album — and another $2 million after the album was completed.
Lil Wayne Plans to Leave Cash Money With Drake & Nicki Minaj
Lil Wayne says he’ll walk out if Cash Money refuses to pay.
On top of suing Cash Money, Wayne plans to take all his Young Money artists — including Nicki Minaj and Drake — when he parts ways with the label.”
Source via Billboard.
SMH. Get Understanding Copyrights and Trademarks today. There are not enough facts for me to make a legal analysis of the circumstances but it seems Wayne is using his Young Money Cash Money Records (YMCMB) signees (Nicki and Drake) to leverage a promised advanced payment for an album, Carter V, that will probably sell one-tenth of $10M. Standard industry advances are based on previous and projected sales thus it is highly unlikely Wayne got such an outrageous agreement in writing. I hope this case goes to trial because I have always wanted to know how Cash Money/Republic/Universal is structured and it would set precedents in several areas of music law. Time will tell.