Holding out has truly paid off for Lil Wayne, he has reportedly received a payout “well over $10 million” as a settlement of his legal battle against Birdman, Cash Money Records and Universal Music Group.
According to The Blast:
According to court documents obtained by The Blast, Wayne’s attorney, Howard King, filed a notice with the court on May 23 that all sides are ready to dismiss the lawsuit.
Our sources say Universal wrote a big check to settle the suit and none of the money came from Birdman. As for the amount, we’re told it is “well over $10 million.”
We are told that Universal was comfortable with the massive payment because they believe they will recoup the profits from Drake and Nicki Minaj going forward — a major part of what Wayne was suing over.
As part of the arrangement, Lil Wayne is now officially done with Cash Money and the infamous “Tha Carter V” album will now be put out by Universal.