News: No Lie? Drake Confronts Young Money Unpaid Royalty Reports
Thursday, Aug 2, 2012 11:45PM
Young Money rapper Drake is letting the world know he has no plans of hanging up his YMCMB jacket and apparently dismissed reports of him still being owed unpaid royalties.
Drizzy hopped onto his Twitter to seemingly shut down the gossip and declare his loyalty to Young Money.
"Despite what your daily dose of bullsh*t may lead you to believe. I am forever about this Young Money team.," he tweeted August 2nd. (Drake's Twitter)
Last month, reports landed online of music executive James "Jas" Prince taking legal action against Drake's management.
The music exec who discovered Drake says that the rap star's management company has been cheating him out of big bucks -- and that Drake is being ripped off to the tune of millions as well. In papers filed in Manhattan Supreme Court, James "Jas" Prince says that he discovered Drake on MySpace back in 2007 and introduced him to Lil Wayne and the bad-boy rapper's managers -- only to get cut out of the deal. They later agreed to give Prince a share of Drake's earnings, but he has yet to see a penny of that money, the suit says. More shocking, though, the suit claims the managers also have failed to pay Drake any of his royalties from his hit records. "He hasn't been paid, and we haven't been paid," said Prince's lawyer, James McMillan. A rep for the managers, Aspire Music Group, Laurant Management and Three Kings, did not return a call for comment. A rep for Drake did not return a call for comment. (New York Post)
Earlier this year, Cash Money Records got sued over unpaid royalties.
Music giant EMI says Cash Money Records, the label that is home to rappers like Lil Wayne, Drake, and Nicki Minaj, owes nearly half a million dollars in royalty payments from a settlement agreement. In November 2009, EMI filed a copyright infringement lawsuit against Cash Money in federal court in Manhattan. The licensing dispute resulted in a settlement agreement where Cash Money said it would pay royalties for the EMI songs Cash Money's artists sampled on their own albums. But EMI says it had to sue again because Cash Money stopped making its quarterly royalty payments. (Courthouse News Service)
Prior to Drizzy dismissing the rumor, reports claimed he had royalty issues and got removed from Young Money last year.
Now, this is a good one. There are rumors that Drake was unceremoniously kicked out of Young Money after he had a major argument with both Baby and Lil Wayne. Apparently, Drake was owed money for past royalties and felt the need to get more credit for his contributions to YM. From what I understand, there is no truth to this rumor. Actually, somebody hit me up to tell me it wasn't true. That's not to say there aren't similar rumors. That's to say this one isn't on the money. (All Hip Hop)
Check out a recent Drake interview below: