Lil Wayne is reportedly taking his issues with former mentor Birdman, and label Cash Money Records, to court.
According to an exclusive report by TMZ, Wayne asked a judge to end his contract with Cash Money, claiming that the company violated the terms of his contract by withholding tens of millions of dollars.
Lil Wayne hopes to get that money back from Birdman by suing him and the label for $51 million.
However, Wayne may be out of luck; an earlier report by the Inquisitr indicated that Cash Money was having some serious money troubles. Birdman, in particular, has been battling rumors that he’s flat broke.
If it’s true that Birdman was “booted” from his condo for bouncing checks, that may not bode well for Lil Wayne’s quest to get paid.
— Rap-Up (@RapUp) January 28, 2015
In the meantime, the release of the long anticipated (and long-delayed) Lil Wayne album Tha Carter V is on hold until somebody at Cash Money gives Wayne the money he feels owed.
If this is done ASAP, then Cash Money Records will be able to go ahead and release the album.
Things are certainly looking bad for Birdman, who is at risk of losing his biggest stars.
MediaTakeOut claims that Lil Wayne may be looking to get together with rapper TI to form a brand new label full of popular hip hop talent.
“According to TWO independent sources, one close to TI – and one close to Wayne – TI and Wayne have been holding SECRET negotiations to form a record label of their own. The label would NOT be called Young Money or Grand Hustle – it would have its own name. One insider explained, ‘Wayne has the rights to Drake and Nicki Minaj, and TI has the rights to Iggy Azalea.’ So when it’s all said and done – the new label would have Wayne, Drake, Nicki, TI and Iggy under ONE UMBRELLA – WOW TALK ABOUT FIRE!!! [sic]”
“And just in case you had ANY DOUBT about this EXCLUSIVE report – TI sort of let the CAT OUT OF THE BAG on Friday night in Miami [sic]”
Apparently, TI made a reference to the planned label during an appearance that has some speculating that he may have been referring to the secret agreement between himself and Lil Wayne.
It seems bizarre that Lil Wayne would file such a heavy lawsuit against Birdman if he knows that his former mentor is strapped for cash.
Do you think that there’s a good chance that Lil Wayne will get out of his contract with Birdman?
[Image Credit: Hip Hop Early]