Lil Wayne Sells Masters to Universal Music Group
After the increase in masters sales this year, Lil Wayne has now joined the list after officially selling his masters to Universal Music Group for more than $100 million. However, his fans were shocked to find out now due to the deal occurring last June.
Although it was initially planned to be unreleased information, the news of the sale was released due to a recent lawsuit filed against Lil Wayne by his former manager Ronald Sweeney for more than $20 million in unpaid funds. This lawsuit alone also comes after Wayne’s arrest and charges for possession of a firearm, which may lead to a ten-year prison sentence if convicted.
Sources have also wondered why Wayne only sold his masters for a little over $100 million due to the recent news of Bob Dylan selling his entire catalog for $300 million. However, the deal included the whole Young Money catalog and not his own, meaning that the sale consists of artists of the label, including Drake and Nicki Minaj, the two artists who put Young Money Entertainment on the map.
This deal’s actions now indicate that Universal Music Groupowns the masters for all of Drake’s pre-2018 recordings and several of Nicki Minaj’s discography. Although other Young Money Entertainment artists have yet to comment on this sale, more information will likely be released as Lil Wayne’s current lawsuit with Sweeney continues.