According to new reports, the hip-hop heavyweight is threatening to dissolve Young Money under the pretense that it must be handled properly or will ultimately be shut down.
As reported by The Blast, Weezy recently filed legal documents demanding that the operations of the joint venture, under the Cash Money moniker, must be overseen by an advisor to supervise its operations or appointed a liquidator upon termination. Birdman has allegedly contested the request citing that Wayne has no legal holding to shut down the company considering he's still under contract.
Back in 2003, Young Money was launched as a joint label under Cash Money Records with Wayne grooming its rising talent like Drake and Nicki Minaj. Since then, the "A Milli" rapper has gone on to file a lofty lawsuit against co-founder Birdman including $51 million for unpaid royalties, $8 million advance for Tha Carter V and full creative control of top-tier acts.
In the midst of the hailstorm, several industry vets have come forward to defend Wayne and request that Birdman pay him his just due. The rap mogul, however, has remained relatively quiet on the dispute. Most recently, he broke his silence a few short weeks ago to clarify his stance on the situation.
Perhaps Wayne's new court filing could be the last straw in the ongoing saga. Stay tuned for more details regarding this story.
(Photo: Johnny Nunez/WireImage)
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