Cash Money Records head Birdman may have a hefty problem on his hands as reports claim a boy band has taken legal action against his Young Money company over a contract dispute.
According to reports, teenage rap crew W3 The Future are owed a bulk of their $600,000 deal from YMCMB.
The group’s production company Grassroots Productions sued Young Money Entertainment and Cash Money Records, claiming it signed a record deal last May in which Cash Money promised $600,000 to cover both the group’s advance … as well as the recording budget for their first album. Grassroots claims YME and CMR paid the initial recording fees but ultimately failed to pay the bulk of the $600,000 … even after W3 The Future delivered their album months later as promised. Grassroots says CMR simply told them, “Cash Money is not moving forward with this project.” And that was that. (TMZ)
Buzz behind W3 The Future landing a Young Money deal surfaced online last May.
In a video announcement earlier this week, Lil Wayne and Mack Maine revealed the latest addition to the roster. W3 The Future, who are an international pop group consisting of three friends 3siXT, DG, and Edge One, are the first urban pop trio to be signed to Young Money. (XXL Mag)
Prior to the current legal war, W3 were primed to be the first international group to sign and drop an album under Young Money.
W3 The Future, also known as WTF, are a teenage group consisting of 3 best friends – 3siXT, DG, and Edge One. They are the very first group to sign a deal with Young Money Entertainment. (Young Money HQ)
While not enough to top Bad Boy CEO Diddy, Baby landed on Forbes’ Wealthiest Hip-Hop Artists 2014 list earlier this month.
1. Diddy $700 million 2. Dr. Dre $550 million 3. Jay Z $520 million 4. Birdman $160 million 5. 50 Cent $140 million (Forbes)