Lil Wayne Reaches Settlement with Cash Money
Lil Wayne’s lengthy legal battle may finally be over.
The Young Money rapper has reportedly scored a victory in his ongoing fight against Birdman and Cash Money Records. According to court documents obtained by The Blast, Wayne’s attorney, Howard King, filed a notice with the court on May 23 to dismiss the ongoing lawsuit.
Wayne received a significant payday “well over $10 million” to settle the suit, according to the report. The money reportedly came from Universal Records and none of it from Birdman.
Universal was willing to settle because they believe they will recoup the profits from Drake and Nicki Minaj going forward. Both Young Money artists were part of Wayne’s lawsuit.
— Chance The Rapper (@chancetherapper) June 7, 2018
As part of the deal, Wayne has cut ties with Cash Money and his long-awaited album Tha Carter V will finally be released by Universal.
In 2015, Weezy sued Cash Money for $51 million to terminate his record deal. He accused Birdman’s label of owing him an $8 million advance for Tha Carter V, plus $2 million once the album was complete.
Lil Wayne and Birdman were spotted hanging out together a few times earlier this year. However, according to The Blast, there is currently “no relationship” between them.
As for Tha Carter V, Birdman vowed that the album would be released in 2018. “We’ll get that this year,” he told Rap-Up in February. “I’m guaranteeing you gon’ get it this year.”
UPDATE: Lil Wayne’s attorney Ron Sweeney has confirmed that the rapper has reached a settlement with Cash Money, but did not disclose terms of the deal other than saying he is “happy.”
“Per our settlement agreement, the matter has been amicably resolved to the satisfaction of all parties,” Sweeney told Billboard. “In terms of the particulars, we’re prohibited legally from saying anything further. I can say that my client is happy. He is his own man, a man that owns his assets, his music, and himself. At some point, Wayne will let his fans know what’s going to happen next.”