Following reports of a major bidding war between three major labels, hot rapper Drake has reportedly come to a decision, opting to sign a deal with Cash Money / Universal MoTown.
According to SOHH.com, inside sources say the deal is done, joining a Cash Money Records roster that boasts Lil Wayne, and Birdman.
During a BET Awards after-party on Sunday night (June 28), the Canadian rapper promised that an announcement for the deal was forthcoming.
"There's an album coming out, hopefully by the end of this year. The craziest part, I, uh, you'll hear about the deal," Drake said.
If you noticed, the rapper performed alongside Lil Wayne during the BET Awards. However, he was sitting down during the performance. Why? Because he had an injury.
"I just take it a day at a time," he explained of the injury. "I actually, I tore my ACL. So yeah, I'm back on the canes so yeah, to perform today was a bit of a challenge, but you know, I got through it man and it was a great thing."
On his Twitter, he promised fans a better performance next time: "I performed sitting down because I had no choice. I'll make it up to y'all that's my word!"
According to previous reports, both Universal Motown and Atlantic Records, and one other label, were involved in a major bidding war to sign Drake. Sources told Billboard.com, it was "one of the biggest bidding wars ever".
Warner Music Group's CEO Lyor Cohen and COO Julie Greenwald were on-hand for his recent New York show, which fueled the buzz of Drake, creating speculation that WMG was making a serious play as well.
Drake told Billboard.com previously that the label he chooses will add to the buzz he's already created.
"Just know that whatever label we sign to it'll be because they'll add to what we've created on our own," he said. "I am very happy in my situation now, which is signed to Cortez [Bryant] and Gee Roberson at Young Money and management through 'Hip Hop Since 1978.' The most important thing for me is being around my team -- they are stronger than any label."
Drake's official debut will be titled Thank Me Later. Additionally, he'll be on tour this summer with Lil Wayne, Young Jeezy and Soulja Boy Tell'em as part of the Young Money Presents: America's Most Wanted Music Festival.