Young Thug may be out of jail but that does not mean the end of his legal problems as he has been sued for allegedly wrongfully receiving millions of dollars.
According to AllHipHop, the Atlanta rapper (real name Jeffery Williams) is being sued by music giant AEG (Anschutz Entertainment Group) for allegedly signing a publishing deal in 2021 with Kobalt Music worth $16 million, despite AEG claiming they had already secured the rights to Thug’s music.
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AEG argue that Thugger signed a deal with them in 2017 which saw him receive a $5.25 million loan. After failing to pay the money back, they claim he relinquished the copyright to his publishing to the company.
As part of Thug’s default on the loan, AEG also argue that they received the rights to promote the YSL leader’s live shows.
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AEG took legal action after Thug sold his publishing in 2021. However, proceedings were paused after the rapper was arrested as part of the high-profile RICO case against his YSL collective.
Now that Thug is out of jail, AEG are seeking the initial $5.25 million loan repayment plus interest, as well as any money the rapper made from his deal with Kobalt.
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AEG previously sued Young Thug in 2022 for almost $6 million for breach of contract.
The company claimed even with the rights to Thug’s concerts, he continued booking shows on the side for hundreds of thousands of dollars in performance fees.
“Despite having granted AEG the exclusive right to promote Mr. Williams’ concert performances under the terms of the 2017 Artist Agreement, YSL and Mr. Williams immediately failed and refused to honor their respective obligations under the 2017 Artist Agreement by, among other things, disregarding AEG’s rights, performing concerts without AEG’s involvement, and retaining all proceeds generated therefrom,” AEG lawyer Kathleen Jorrie said at the time.
The company also claimed that Thug put up some of his intellectual property rights as collateral in the agreement. Subsequently, AEG argued they “have the right to take control of the Young Stoner Life brands, portions of his publishing catalog and the Young Thug trademark.”
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Young Thug has yet to respond to the lawsuit and the claims within. It is also not known if this lawsuit will have any impact on his lengthy probation.
