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.
TMZ reports;
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.
