Lil Wayne’s former manager Ronald Sweeney is taking legal action against the rapper who’s being dragged in more than a $20 million lawsuit in unpaid funds after helping him to win a case with Cash Money, according to a report.
In court records that were obtained by TMZ, Sweeney claims Lil Wayne who’s currently 38-years-old did not pay him his complete share of a lawsuit settlement with Cash Money Records.
Lil Wayne had previously claimed in the lawsuit that his record label violated his contract and withheld money after delaying the release of his Carter V album, according to Billboard.
Then in 2018, the case was “amicably settled” and Lil Wayne reportedly walked home with more than $10 million.
According to a Forbes story that was published in 2018, Sweeney worked very hard behind the scenes to help Wayne with his case victory.
“Unfortunately, the way is the business is situated, everybody goes for what I call the fool’s gold, and that is the upfront advance. Often times, artists are giving up rights to get more money upfront, not realizing that those rights are worth a lot,” Sweeney said.
Forbes news reports show that due to the business manager’s “countless renegotiations with Cash Money,” Lil Wayne was able to co-own his masters and fully own Young Money Entertainment.
The new court document shows Sweeney calls out the fact that he renegotiated Wayne’s deal with Cash Money. The manager also claims he was granted 17 percent in commission, a 7 percent increase in commission over Wayne’s previous manager, Cortez Bryant, from May to Sept. 2018.
Ronald Sweeney was fired in September 2018 over a dispute that involved Bryant and rapper Mack Maine, but the former manager is saying now that Lil Wayne sold his masters to Universal Music Group in June, and should have the money to pay him.