Rapper Lil Wayne is suing Cash Money Records for $51 million after claims of being cheated out of $8 million on a record he completed in December 2014. On Wednesday, the Grammy Award-winning performer asked a federal judge to nullify contracts he has held with the company since November 1998. With all of the artists advances, luxury shopping sprees, G5 trips, etc, all of Cash Money Records’ expenses have piled up over the years. It is obvious that money is becoming scarce because each week we hear about a new lawsuit against CEO Birdman or Cash Money Records. So, this leaves us to question whether or not Birdman even has $51 million to fork over. Anyway, in case you aren’t privy to the details of Lil Wayne’s lawsuit, check out what ABC News is reporting… Born in New Orleans as Dwayne Michael Carter Jr., the 32-year-old rapper said in the lawsuit that his relationship with the label has been deteriorating over the last four years, with Cash Money failing to live up to contractual promises regarding monthly accounting statements and the timely payment of profits owed to Lil Wayne. The lawsuit said the problems worsened since 2012 as Cash Money failed to pay Lil Wayne a 49 percent share of net income derived from the sale of solo recordings by rapper Drake for Lil Wayne’s partial ownership of the Young Money label, despite Drake’s rise as one of the best-selling recording artists in recent years. Nicki Minaj is also signed to the label. It said Cash Money also is claiming millions of dollars in marketing expenses for the Young Money label even though it is required to obtain approval from Lil Wayne for expenses greater than $300,000. And it said the company is preventing artists recommended by Lil Wayne from being added to the Young Money label and is failing to pay third parties involved with the Young Money label, leading to lawsuits and additional costs. A New York lawyer for Cash Money did not immediately return a message seeking comment. The label was co-founded by Lil Wayne’s mentor, Bryan “Birdman” Williams. A spokeswoman for Birdman and Cash Money did not return a message seeking comment. It’s going to be interesting to see how this all plays out. Hopefully, Birdman can grant Lil Wayne his $51 million wish.
