Lil Wayne brought a new wave of Hip Hop with protégés Nicki Minaj and Drake under his Young Money imprint joint with Cash Money. Amid a lawsuit against Birdman and his record label, the Hip-Hop legend has made a major move toward independence.
Lil Wayne has reportedly petitioned to dissolve the Young Money imprint if a receiver is not appointed to the joint venture with Cash Money between the labels, according to the Blast via Hot New Hip Hop .
Two years ago, Lil Wayne sued Birdman and Cash Money for $51 million. It was later reported that the rapper called off settlement talks.
Lil Wayne and Birdman briefly ended their feud when they appeared in Liv nightclub in Miami together where Birdman declared that he loves his superstar son.
TMZ later reported Lil Wayne’s claim that the Cash Money CEO spent $70 million out of a $100 million advance from a distribution deal with Universal Music Group.
Birdman has reportedly responded to the “Lollipop” rapper’s latest move to dissolve Young Money, stating that he has no right. According to the report, Lil Wayne is still under contract with Cash Money and cannot shut down the imprint.
Birdman recently went on a profane rant against Lil Wayne’s fans that accuse him of cheating their favorite rapper out of money. In the rant, the Cash Money CEO takes credit for his success stating the following : “Lil Wayne my son. I raised him. He ain’t had nothin’, and I brought him to be something.”
One of Birdman’s most vocal critics, Rick Ross, ignored his threats and reminded the Cash Money boss that he has been owing Lil Wayne money for about five years.
Lil Wayne has expressed feeling like a prisoner on many occasions and even flirting with retirement. Fans have blamed Birdman for the Tha Carter V delay. Rapper Tyga has also stated that he never received royalty payments for any of his hit songs, such as “Rack City,” while signed to the label.
Tyga has praised Lil Wayne on many occasions and shifted to blame on Birdman, who denies that he owes the rapper any money. Tyga also alleged that he had to pay $1 million to get out of his contract.
Do you think Lil Wayne will have success with his latest move?
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