Cash Money/Young Money owned/operated by Birdman in partnership with Lil Wayne has a little problem… Birdman has said to have blown through over $70M of the cash advance provided by Universal Music Group, and Lil Wayne has been left in the dark.
Lil Wayne has filed legal documents to follow the paper trail on how in the hell over $70M has been spent by Birdman.
Birdman claims that the money has been spent on advance on royalties, marketing and recording expenses. But Lil Wayne is calling bull shit, saying that there is no way in hell that is true, and has requested documentation on the bills paid. Lil Wayne has requested this info several times, and was only provided with 22k forms that had nothing to do with money spent. Well now his attorneys are requesting “proof” on where the money has been going.
Sources close to the hip hop community are telling ShowbizSpy that Birdman has spent millions and millions on frivolous items, and not the actual record label. Quoted directly from source within the organization: “Birdman spends hundreds of thousands a day on complete crap, and very little on actual work, Lil Wayne is right to request the financial documents and will see that all in all Birdman has spent no more than 20-30M at most in real bills for the label.”
Lil Wayne’s 2+ year mission to get his rightful compensation from Birdman has been nothing short of a monster battle. TMZ also recently reported that Wayne has found himself a powerful ally: James Prince, otherwise known as J. Prince, founder and CEO of Rap-A-Lot Records. Prince’s son Jas Prince was the man who connected Drake with Young Money. The elder Prince told TMZ that he is willing to shoulder some of Wayne’s burden and put pressure on Birdman to pay his estranged son.
“Where Lil Wayne is weak, I am strong,” Prince said. “He has gained an ally, and together we will get back all money owed to him and my son off the Drake albums… I witnessed the hard work that went into Drake’s career and for Cash Money to try and take something that isn’t theirs to take, does not sit well with me and family around the world.”
So what do you think? Did Birdman spend the money legit, or is it going to come out that he has just been wasting it? We are putting our money on, he has been wasting it.