When it rains, it pours: Young Thug Could Lose $6M, Name & YSL Brand in lawsuit

JordanWearinThe45

JordanWearinThe45

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Young Thug has a date set for a trial- and this one has nothing to do with the high-profile RICO charges he faces.

The rap star is locked in a multi-million battle with concert behemoth AEG, which could significantly deplete his resources.

AEG is seeking the return of a $5 million advance for the exclusive rights to all of Young Thug’s concerts. The issues between the rapper and AEG started well before his problems with prosecutors in Georgia.

In December 2020, AEG says Young Thug signed an agreement in 2017, taking the considerable advance. But almost immediately, the rap star breached their contract.

AEG claims that although they had the exclusive rights to Young Thug’s concerts, he kept the booking shows on the side while collecting 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’s lawyer, Kathleen Jorrie explained.


Eventually, AEG hit Young Thug with a breach of contract claim and demanded the return of their $5 million, plus interest.

The company also claims Young Thug put up some of his intellectual property rights as collateral in the agreement.

As a result, AEG believes they have the right to take control of the Young Stoner Life brands, portions of his publishing catalog, and the Young Thug trademark to recoup the $5 million the rapper was advanced.

Young Thug initially ignored the allegations but eventually filed a reply to the lawsuit, denying the claims. In September of 2021, the rapper and his lawyers held talks settlement with AEG, but the parties could not come to an agreement.


AEG and Young Thug were set to square off in court over the money on October 25th, 2022, but that trial was delayed when he was hit with RICO charges for allegedly being the leader of the Young Slime Life street gang.

Last month, AEG’s lawyers marched into court to ask a judge for a one-year extension, asking for the trial to start after Young Thug is tried on the RICO charges.

Now, Young Thug and AEG will go to trial with a tentative date set for October 24th, 2023. AEG is seeking at least $6 million in damages, the rights to YSL and the name Young Thug, and attorney fees.
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allhiphop.com

EXCLUSIVE: Young Thug Could Lose $6 Million And YSL Brand In Battle With AEG

Rap star Young Thug could lose a significant portion of his fortune, and a new battle with concert giant AEG! Read more!
allhiphop.com allhiphop.com

:sadcam:
 
Guvnor

Guvnor

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Damn they trying to railroad him right now smh. He is already in a criminal case.

Why sue him now?
 
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