Lil Wayne Allegedly Sold Masters In Nine-Figure Deal

Wayne's former manager is now claiming the rapper sold his masters to Universal Music Group.

BYAlexander Cole
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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 Managing Editor of HotNewHipHop. He started at HotNewHipHop back in 2018 where he began as a Sports and Sneakers writer. During this time, he has shown an expertise in Air Jordans, Yeezys, and all things that have to do with Nike. His favorite kicks are the Air Jordan 1 High OG, the Air Jordan 4, the Air Jordan 6, and the Adidas Yeezy Boost 350 V2 in the "Beluga 2.0" colorway. Although his collection might not be the biggest, he is always looking to add new styles to it. When it comes to sports, Alex has a particular interest in the NBA and the NFL. His favorite teams are anywhere LeBron goes, and the Kansas City Chiefs. As a Montrealer, the Montreal Canadiens hold a special place in his heart, even if they haven't won the Stanley Cup in his lifetime. Alex also works for the Concordia Stingers, where he provides play-by-play and color commentary for the football, hockey, and basketball teams His favorite hip-hop artists are Kendrick Lamar, Playboi Carti, Travis Scott, and Lil Uzi Vert.