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It's a Forbes's article in which they talk to the lawyer that got Wayne out of his contract. According to the article, not only does Wayne have complete ownership of Young Money, he also now has co-ownership of all his masters (music catalog).
https://www.forbes.com/sites/ogdenpa.../#1a67cf5b6571
Lil Wayne’s years-long legal battle with Cash Money Records proved that even the self-proclaimed greatest rappers of all-time make mistakes.
In 2015, Wayne filed a $51 million suit against the label, claiming the company withheld millions of dollars in connection with the delay of Tha Carter V album. The rift between Wayne and his longtime familial mentor Ronald “Baby” Williams was heavily publicized, raising questions about when the fifth Carter installment would arrive, and what the outcome would be for Wayne and his Young Money empire.
Behind the scenes, Wayne’s attorney, Ron Sweeney, was working diligently to figure out the answers.
Negotiating on behalf of a hip-hop elitist isn’t anything new for Sweeney. He has made a living representing top-tier talent, including Eazy E and Ruthless Records, Sean “Puffy” Combs and the Bad Boy enterprise, Irv Gotti’s Murder Inc., James Brown, DMX, Swizz Beatz and more.
Forty years ago, after graduating from South Central Los Angeles’ George Washington High School, Sweeney’s mother gave him an ultimatum: get a job, go to school or get out.
Ron SweeneyRon Sweeney
School was the wisest option. In his third year of law school, he went to work at a small boutique entertainment firm, and quickly ditched the thought of pursuing a career in another industry. Two years after his 1978 graduation, he began to practice through his own firm in his apartment.
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But throughout his decades-long practice, he’s found that the same problem blurs the vision of artists who are eager to get their hands on their first check. In 2017, Tyga admitted that he was also blinded by opportunity when he joined Cash Money at 18 years old, and ultimately “had to pay to get out [of my deal] … At least $12 million to $15 million, they owe me.”
“Unfortunately, the way is the business is situated, everybody goes for what I call the fool’s gold, and that is the upfront advance,” Sweeney said. “Often times, artists are giving up rights to get more money upfront, not realizing that those rights are worth a lot.”
Typically, regaining the ownership of rights to an artist’s master recordings from their label is a demand requested by top-selling acts. In 2004, Jay-Z negotiated the return of the masters to all the music he made while at Def Jam as part of an agreement to become president of the label. Because of Sweeney’s countless renegotiations with Cash Money, Lil Wayne co-owns his masters and fully owns Young Money Entertainment.
“The trick is to pull back and control as many revenue sources as possible,” Sweeney adds.
In 2015, Wayne filed a $51 million suit against the label, claiming the company withheld millions of dollars in connection with the delay of Tha Carter V album. The rift between Wayne and his longtime familial mentor Ronald “Baby” Williams was heavily publicized, raising questions about when the fifth Carter installment would arrive, and what the outcome would be for Wayne and his Young Money empire.
Behind the scenes, Wayne’s attorney, Ron Sweeney, was working diligently to figure out the answers.
Negotiating on behalf of a hip-hop elitist isn’t anything new for Sweeney. He has made a living representing top-tier talent, including Eazy E and Ruthless Records, Sean “Puffy” Combs and the Bad Boy enterprise, Irv Gotti’s Murder Inc., James Brown, DMX, Swizz Beatz and more.
Forty years ago, after graduating from South Central Los Angeles’ George Washington High School, Sweeney’s mother gave him an ultimatum: get a job, go to school or get out.
Ron SweeneyRon Sweeney
School was the wisest option. In his third year of law school, he went to work at a small boutique entertainment firm, and quickly ditched the thought of pursuing a career in another industry. Two years after his 1978 graduation, he began to practice through his own firm in his apartment.
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But throughout his decades-long practice, he’s found that the same problem blurs the vision of artists who are eager to get their hands on their first check. In 2017, Tyga admitted that he was also blinded by opportunity when he joined Cash Money at 18 years old, and ultimately “had to pay to get out [of my deal] … At least $12 million to $15 million, they owe me.”
“Unfortunately, the way is the business is situated, everybody goes for what I call the fool’s gold, and that is the upfront advance,” Sweeney said. “Often times, artists are giving up rights to get more money upfront, not realizing that those rights are worth a lot.”
Typically, regaining the ownership of rights to an artist’s master recordings from their label is a demand requested by top-selling acts. In 2004, Jay-Z negotiated the return of the masters to all the music he made while at Def Jam as part of an agreement to become president of the label. Because of Sweeney’s countless renegotiations with Cash Money, Lil Wayne co-owns his masters and fully owns Young Money Entertainment.
“The trick is to pull back and control as many revenue sources as possible,” Sweeney adds.
https://www.forbes.com/sites/ogdenpa.../#1a67cf5b6571
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