Do you know the saying, more money, more problems? Well, it looks like Lil Wayne’s former manager Ronald Sweeney is suing the rapper for over $20 million in unpaid funds.
In court records obtained by TMZ, Sweeney claims that Lil’ Wayne did not pay him for his full cut of a Cash Money Records lawsuit settlement.
According to Billboard, Wayne alleged that his record label violated his contract and withheld money after delaying the release of the Carter V album.
However, in 2018, the case was “amicably resolved,” and the rapper reportedly ended up walking away with more than $10 million.
In 2018, Forbes published a story that said Sweeney worked “diligently” behind the scenes to help Wayne with the Cash Money Records lawsuit.
Sweeney said, “Unfortunately, the way is the business is situated, everybody goes for what I call the fool’s gold, and that is the upfront advance.” He added, “Oftentimes, artists are giving up rights to get more money upfront, not realizing that those rights are worth a lot.”
According to Forbes, due to Sweeney’s “countless renegotiations with Cash Money,” Lil Wayne was able to co-own his masters and fully own Young Money Entertainment.
In recent court docs, Sweeney calls out that he renegotiated Wayne’s deal with Cash Money. From May to Sept. 2018, he claimed he was granted 17 % in commission and a 7 % increase in commission over Wayne’s previous manager, Cortez Bryant.
In Sept. 2018, Sweeney was reportedly fired over a dispute involving Bryant and rapper Mack Maine.
Lil’ Wayne’s ex-manager also pointed out that Wayne sold his masters to Universal Music Group in June and should have the funds to pay him.
