It looks like he was misunderstood though. Wayne made the comment at 106 KMEL’s annual Summer Jam in Oakland, Calif., but what the New Orleans rapper was referring to was Hov’s streaming company—not his label imprint.
Since Weezy is riding the TIDAL wave, he’s technically a part-owner in the company (like all the other artists involved), and therefore signed to Jay Z.
Wayne is also still signed to Cash Money, even though he’s suing the label for $51 million. As noted by Reggie Ossé, an entertainment lawyer and host of The Combat Jack Show, Weezy’s pending lawsuit involves his personal earnings, and money owed from Drake’s music.
Cash Money was contracted to pay Wayne $10 million ($8 million up front, and $2 million once the album is finished) to make Tha Carter V, according to the suit. “Wayne submitted Tha Carter V to Cash Money last December,” explains Ossé. “However, not only did Cash Money refuse to pay him $2 million for completing the album, they still owed him $8 million.”
Further in the suit, Wayne accuses Cash Money of withholding his Young Money earnings. He and the label were supposed to split ownership. “Instead they registered the copyright only under Cash Money, cutting Wayne out completely,” Ossé says.
Though the allegations are one-sided, Cash Money has yet to publicly comment on the suit.
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