After battling in court with Cash Money Records for months, producer Jas Prince is has reached a $11 million settlement with the famed record label over royalties for their signed artist, Drake.
According to the Jasmine Brand, Prince claimed that he originally discovered and signed Drake to Aspire Music Group in 2007 long before Cash Money. However, CMB signed the OVO singer and agreed to pay Prince and Aspire %22 of Drake’s royalties.
Like many others deals with Cash Money, the confidential deal with Prince and Aspire went sour, and Jas filed a suit last year for four million in damages. Birdman’s label claimed that the confidential deal was not not signed with Jas Prince but Aspire instead.
In the midst of all of this, Lil Wayne’s manager, Cortez Bryant, also plays a role in the financial conflict. According to the report, Bryant was an executive for Aspire at the time and was soon sued by Jas Prince for allegedly bringing Drake to Cash Money with the estranged deal. Bryant was eventually fired for auditing Cash Money’s records to see how much the record company owed Aspire in royalties.
On October 6th, Prince appeared in court and called for immediate action due to the increased amount of money owed to the producer, an estimate of 11 Million. Prince believed that Aspire did not sue Cash Money nor did the company collect the amount of money due to the close relationships between Cortez Bryant and Lil Wayne and Cash Money/Young Money. Eventually, 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.