InGodWeTrust
Tall & Handsome in ATL
B-b-but he’s got cookies!
New York State purchases Dame Dash’s shares of Roc-A-Fella to recoup for his back taxes, child support bill, and debts owed to other collectors
- Thread starter KingsOfKings
- Start date
What connections, all he can do now are interviews, and possibly start a pod. Dudes just another one that used to be popping and in the whip.
He aint in the whip no more.
Wargames
One Of The Last Real Ones To Do It
So the other bids were even lower at $250k so NY as the debtor bought it by essentially erasing $1 million on the debt Dames own and they can then turn around and sell it for more in the future.
This is a move made by NY because they they have to believe the asset is heavily undervalued and expect they can get more on their own.
What’s crazy is NY could say sell that third of reasonable doubt to Jay-Z or someone else for 2 Million or even the full $9 million that Dame owed, and Dame would still owe NY $9 million himself for back taxes to NY.
If Jay-Z ever wanted to END Dame he would pay the equivalent of Dame’s debt and then sit back as Dame still has figure out where that tax money is going to come from. Just Petty as fukk.
This is a move made by NY because they they have to believe the asset is heavily undervalued and expect they can get more on their own.
What’s crazy is NY could say sell that third of reasonable doubt to Jay-Z or someone else for 2 Million or even the full $9 million that Dame owed, and Dame would still owe NY $9 million himself for back taxes to NY.
If Jay-Z ever wanted to END Dame he would pay the equivalent of Dame’s debt and then sit back as Dame still has figure out where that tax money is going to come from. Just Petty as fukk.
Elim Garak
Veteran
Dude he knows people in the entertainment industry. My point is no one likes him.
VegetasHairline
Veteran
Maybe the state of New York can purchase Dame some new teeth.
This is the only thing he owns(well formerly owned) that actually turns a profit
How do YOU know this?
ROBEEZYKILLA
the coli soulja
Damn
New York state buys share of Jay-Z’s Roc-A-Fella Records to make deadbeat co-founder Damon Dash good on back taxes
New York state snapped up a one-third share of Jay Z’s Roc-A-Fella Records at an auction Thursday in a bid to make the label’s embattled co-founder Damon Dash pay down more than $8.7 million he owe…nypost.com
New York has “99 Problems” — literally.
The state government bought a one-third share of Jay-Z’s Roc-A-Fella Records at an auction Thursday in hopes of recouping $8.7 million that the label’s embattled co-founder, Damon Dash, owes in back taxes.
An anonymous Albany rep entered the winning $1 million bid at the federal auction in Manhattan in hopes of flipping the 33.3% stake in the famed hip-hop label — which produced hits such as “Hard Knock Life” and “99 Problems” — for enough cash to settle Dash’s huge tax debt.
The state made a creditors bid on the legendary rap company’s shares, meaning it didn’t have to front the $1 million, and can now resell the portion of the company at no risk.
It is not clear when or how the state will sell the label rights to pay off Dash’s tax debts.
Two other anonymous bidders were in the running — bidding $250,000 and $223,000, respectively — for the portion of the firm, which also founded the Rocawear clothing line.
Boss loves
New York state buys share of Jay-Z’s Roc-A-Fella Records to make deadbeat co-founder Damon Dash good on back taxes
New York state snapped up a one-third share of Jay Z’s Roc-A-Fella Records at an auction Thursday in a bid to make the label’s embattled co-founder Damon Dash pay down more than $8.7 million he owe…
New York has “99 Problems” — literally.
The state government bought a one-third share of Jay-Z’s Roc-A-Fella Records at an auction Thursday in hopes of recouping $8.7 million that the label’s embattled co-founder, Damon Dash, owes in back taxes.
An anonymous Albany rep entered the winning $1 million bid at the federal auction in Manhattan in hopes of flipping the 33.3% stake in the famed hip-hop label — which produced hits such as “Hard Knock Life” and “99 Problems” — for enough cash to settle Dash’s huge tax debt.
The state made a creditors bid on the legendary rap company’s shares, meaning it didn’t have to front the $1 million, and can now resell the portion of the company at no risk.
It is not clear when or how the state will sell the label rights to pay off Dash’s tax debts.
Two other anonymous bidders were in the running — bidding $250,000 and $223,000, respectively — for the portion of the firm, which also founded the Rocawear clothing line.
The thing is Jay Z owns the masters to those songs, so you don’t actually get those
DeuceZ
Li pitit gason
Pride cometh 
before the fall 
Triple entendre don't ask me how
before the fall Triple entendre don't ask me how
vdfebduderocks
Pro
a good 'ol seizure of Dame's Roc-A-Fella shares because neither America Nu nor "CEO" can pay all of the outstanding debts, from child support, NY back taxes, and that director Josh Webber (in that order).
The NY tax dept will be screwed because Dame ain't got the cash to pay that. Same with Josh Webber. I wouldn't be surprised if the state will flip the ownership to Hov in some framework of a deal that ties this in with the impending city Casino deal. Then he and Biggs can figure that piece out.
At least we don't have to see any stupid videos of Dame adding the Roc chain to sweeten the offer for his share of Roc-A-Fella
The NY tax dept will be screwed because Dame ain't got the cash to pay that. Same with Josh Webber. I wouldn't be surprised if the state will flip the ownership to Hov in some framework of a deal that ties this in with the impending city Casino deal. Then he and Biggs can figure that piece out.
At least we don't have to see any stupid videos of Dame adding the Roc chain to sweeten the offer for his share of Roc-A-Fella
