Nearly three years after filing a lawsuit against Cash Money Records, word is, Lil Wayne and his longtime label may have settled.
According to The Blast, both have come to an agreement on a financial settlement, paying him “well over $10 million”.
In court documents, Wayne’s attorney Howard King filed a notice with the court on May 23 to dismiss the ongoing lawsuit.
Furthermore, it’s said that the payout is coming from Universal Records. Not Birdman or Cash Money Records.
Why? Well, Universal wants to settle, because the company believes it can profit heavily from from Drake and Nicki Minaj going forward, both of whom are signed to Weezy’s Young Money imprint.
As part of the deal, Wayne will also cut ties with Cash Money and his long-awaited album Tha Carter V will be released via Universal.
Wayne filed a $51 million suit against Cash Money in 2015, accusing Birdman and the label of owing him an $8 million advance for Tha Carter V, plus $2 million once the album was complete. In the years following, the battle has raged on and Wayne has fired shots at his now-former label several times, despite being spotted hanging out with Birdman a few years earlier this year.
According to The Blast, there is currently “no relationship” between to the two.