Cash Money Records Sued for Not Handing Over Drake Profits
More trouble is brewing for the Cash Money camp. According to a Page Six report today (Jan. 13), Cash Money Records has been accused of withholding profits earned by one of the label's biggest stars, Drake.
Aspire Music Group LLC, the management company that inked a four-year exclusive deal with the Canadian rapper in 2008, has filed a lawsuit against Cash Money for their coins owed. According to the Manhattan Supreme Court, when Drizzy signed to Cash Money Records by-way-of Young Money Entertainment in 2009, Aspire entered into a second agreement with Cash Money to receive 33 percent of Drake’s licensing profits and songwriting sales. This committed Drake to a four-album recording agreement. The new lawsuit essentially accuses Cash Money of not paying up.
Aspire Music Group was founded by Cortez Bryant, Gerald “Gee” Roberson and Derrick Lawrence back in '08 with Drizzy being the first signee. The "One Dance" star has since severed ties with Aspire's founders. In 2012, Drake hired an attorney to renegotiate his Aspire contract, claiming that he did not receive his royalties from the company.
This new lawsuit aimed at Cash Money comes as Birdman continues to battle with his protege, Lil Wayne, over the release of the long-awaited Carter V album. Birdman said earlier this year that Tha Carter V would finally be liberated in 2017.
XXL has reached out to Cash Money Records for comment on the lawsuit news.
40 Hip-Hop Albums Turning 20 in 2017