Jas Prince played a key role in Drake’s career, he was the person who introduced Drake to Cash Money and Lil’ Wayne. Now it’s being reported that he has settled the lawsuit he filed last year against Cash Money Records over Drake’s royalties.
According to The Jasmine Brand, Jas Prince is working on an undisclosed amount with the label. Jas Prince says he only received $2 million for Drake’s royalties which is far from the 22 percent Jas Prince and Cash Money agreed on in 2007. According to Jas Prince, Drake has made $40 million for Cash Money Records.
In 2007, Drake was signed to Aspire Music Group after he was discovered by Jas Prince. When Cash Money offered him a deal to sign Drake to them, the stipulations were Cash Money agreed to pay 22 percent of all Drake’s advances, net profits and all other monies to Jas Prince and Aspire. On October 6th Jas Prince asked the courts to move on the lawsuit because he feared that he would be paid from Cash Money. On October 20th Jas Prince filed new documents in a federal court where he stated that he has reached a settlement with one of the shareholders of Aspire and he expects the deal to be finalized soon.
In a separate lawsuit, Jas Prince is suing Cortez Bryant. Cortez is the manager of Lil’ Wayne (and Lil’ Twist) and is the founder of Aspire Music a Group. The ongoing lawsuit claims that Jas Prince was not properly paid after the deal with Cash Money. Bryant claims that Jas Prince was paid his percentage from the label already and Cash Money owes money to Aspire directly from Drake’s royalties -not Jas Prince.