Young Money just might have some trouble on their hands if their legal ducks are not in a row. Their web domain www.youngmoney.com might not be completely owned by the crew. According to reports Lil Wayne’s team offered the original owners of the domain more than a half a million dollars but they are claiming they never received the full payment that was agreed upon reliquishing the name.
Lil Wayne’s label could lose the firehose that promotes stars like Drake and Nicki Minaj among many others … according to a new lawsuit.
Turns out 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 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.
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.
We reached out to Wayne’s Young Money. They had no comment.