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Lil Wayne

Lil Wayne On The Verge Of Losing Big Part Of Young Money

Posted By on July 7, 2014

Rapper Lil Wayne’s Young Money label is on the verge of losing its name as reports claim Wayne and the label is being sued by a company that supposedly sold youngmoney.com to the rapper, but has yet to receive all of their money.

According to reports, the company sold the website to Wayne for $600,000 back in 2011 and have yet to receive all of the money.

 “ The suit claims the company that owned the website sold it to Wayne’s Young Money label in 2011 for $600,000.  But there were strings attached … 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.” (TMZ)

The lawsuit claims Wayne’s company still owes $250,000 and is ignoring the debt on purpose

 “Wayne’s company hasn’t paid the $250K balance it owes and is blatantly blowing off its obligation … according to the lawsuit.  So the seller is suing to get its domain name back.” (TMZ)