Lil Wayne has now filed a lawsuit against record label Cash Money for the sum of $51 million.
The rapper’s lawsuit was obtained by TMZ and shows that Wayne’s suing the company - whose CEO is rapper Birdman - claiming he’s owed millions for his forthcoming album ‘Tha Carter V’.
As a result of the alleged withholding of funds, Wayne wants out of the label and is keen for a judge to appoint him as the joint copyright holder for everything released on his Cash Money imprint, record label Young Money, including Nicki Minaj and Drake recordings.
Sources claim that Wayne was due to receive an advance of $8 million ahead of recording the album, and a further $2 million when it was finished, but they insist it was never given.The insiders go on to say that whilst the new LP was due to be released last May, it’s now been delayed until Birdman pays up.
Last month saw Wayne hit out at the company in a Twitter rant which saw him claim the label were “refusing” to put on his album, insisting he felt like a “prisoner” and wanted out.
A series of tweets read: “To all my fans, I want u to know that my album won’t and hasn’t been released bekuz Baby & Cash Money Rec. refuse to release it.
“This is not my fault. I am truly and deeply sorry to all my fans but most of all to myself and my family for putting us in this situation.
“I want off this label and nothing to do with these people but unfortunately it ain’t that easy
I am a prisoner and so is my creativity Again,I am truly sorry and I don’t blame ya if ya fed up with waiting 4 me & this album. But thank u “Pray.”
Shortly after the rant, Wayne’s manager Cortez Bryant insisted he wasn’t going to quit the label.
