As Cash Money’s fall from grace continues, the once mighty conglomerate has hit another snag.
Earlier this month, it was reported that Jas Prince, the CEO of Rap-a-Lot Records, wanted the money he felt was rightfully owed to him by YMCMB. The debt stems from a deal Prince made in 2007. He says he originally discovered Drake and helped him sign to Aspire Music Group, which Lil Wayne’s manager Cortez Bryant owns part of. Allegedly, Cash Money agreed to pay Prince 22 percent of whatever Cash Money earned off Drake in profits and advances. And during a court appearance a few weeks ago, Jas says that amount has grown to a whopping $11 million.
Fighting back, Cash Money says it owes the money to Aspire, not to Prince directly. But it looks like the judge doesn’t quite agree with Birdman & Co. Jas Prince will be awarded a big check. According to AllHipHop, “two shareholders of Aspire reached a settlement with Prince to pay him $11 million in damages, which is expected to be finalized in a few days.”
Business aside, the allegations haven’t affected Drake and Jas’ relationship. Prince has consistently been spotted in Instagram pictures alongside the 6 God, most recently on Saturday as the OVO crew jetted to Las Vegas to celebrate Drake’s 29th birthday.
SOURCE: AllHipHop | PHOTO CREDIT: Instagram