Business partners, Lil Wayne » and Birdman » may be in the very verge of losing their Young Money Records Label
due to an unpaid debt.
Looks like the firehose that promotes stars like Drake » and Nicki Minaj » among many others got its name from a website back in the day.
According to a new lawsuit, before there was Young Money there was something called youngmoney.com - a business specializing in helping young entrepreneurs manage and make money for more than a decade.
The company that owned the website sold it to Wayne 's Young Money label in 2011 for $600,000. But there was a
clause attached to the deal - If Wayne's Young Money didn't make the payments on time, YM would forfeit the name youngmoney.com and it would go back to the seller, according to TMZ report.
The recent lawsuit is claiming Wayne's company hasn't paid the $250K balance it owes and is blatantly blowing off its obligation. So the seller is suing to get its domain name back.
Wayne nor YM records have made no comments so far. Hmmm
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