Lil Wayne Allegedly Sold Masters In Nine-Figure Deal

BYAlexander Cole99.1K Views
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Lil Wayne
Wayne's former manager is now claiming the rapper sold his masters to Universal Music Group.

Yesterday, we reported that Lil Wayne's former manager Ronald Sweeney filed a lawsuit against the rapper, looking for $20 million in unpaid wages and damages. As Sweeney explained, he was hired by Wayne all the way back in 2005 where he was tasked with helping Wayne resolve his issues with Cash Money and Birdman. According to TMZ, it was revealed in court documents that this dispute was finally resolved back in 2018 and that Sweeney was a large part of it. However, as the manager claims, he wasn't paid properly for his role in the deal and was eventually fired in September of 2018.

Perhaps the most interesting detail to come from this lawsuit is the fact that Wayne allegedly sold his Masters to Universal Music Group back in June of this year. This bombshell came as a way for Sweeney to explain that Wayne currently has the funds to pay him what he's owned. According to Sweeney, the deal with UMG was worth a whopping $100 million, which is quite the cash haul.

Lil Wayne Allegedly Sold Masters In Nine-Figure Deal
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Wayne himself has yet to confirm whether or not this deal is real, although considering how close Sweeney was to the rapper, it's safe to say he would have the inside scoop.

In the meantime, Wayne is currently dealing with other legal situations as today, he plead guilty to a gun charge that could put him in jail for up to 10 years. Stay tuned for updates on these developing stories, as we will be sure to bring you all of the latest information.

Lil Wayne Allegedly Sold Masters In Nine-Figure Deal
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About The Author
Alexander Cole is the current editor-in-chief of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. It was here where he began to hone his craft, putting his journalism degree from Concordia University in Montreal, Quebec, to good use. Since that time, he has documented some of the biggest stories in the hip-hop world. From the Kendrick Lamar and Drake beef to the disturbing allegations against Diddy, Alex has helped HotNewHipHop navigate large-scale stories as they happen. In 2021, he went to the Bahamas for the Big 3's Championship Game. It was here where he got to interview legendary figures like Ice Cube, Clyde Drexler, and Stephen Jackson. He has also interviewed other superstar athletes such as Antonio Brown, Damian Lillard, and Paul Pierce. This is in addition to conversations with social media provocateurs like Jake Paul, and younger respected artists like Kaycyy, Lil Tecca, and Jeleel!
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