Cash Money CEO's Comment On Lil Wayne Re-Signing With Label

Rapper Lil’

Wayne has renewed his deal with Cash Money Records and is working on a new album,

The Carter II.

An announcement

from Cash Money co-CEO’s Ronald “Slim” Williams and Bryan

“Baby” Williams ended months of silence about the fate of one of

their marquee artist’s.

"Lil Wayne

is part of the heart and soul of the Cash Money family and always will be,"

Cash Money Records president and co-founder Ronald 'Slim' Williams said. "He

has grown up with Cash Money and we've watched him mature as an artist and now

as an entrepreneur, with his new Young Money Label."

Wayne has been

with the Williams' brothers since he was 11 years-old. The rapper was in negotiations

with Jay-Z at Island Def Jam as well as Warner, where a deal was almost reached

in December.

In the end, Wayne

opted to re-sign with Cash Money Records, which is a co-venture with Motown/Universal.

Young Money is

Wayne’s new label that will be distributed by Cash Money.

Wayne is grooming

Reel, an R&B artist that has already been featured on Wayne’s The

Carter album as well as Mannie Fresh’s album, The Mind of Manny


"Lil Wayne

eats, sleeps, breathes hip-hop just like we do, and this deal locks down an

even greater future together," co-CEO Bryan “Baby” Williams


In related news,

Wayne recently started classes at the University of Houston where he seeks to

major in political science.