Lil Wayne Sued for Failing to Pay Debt on Young Money Website
It's a fight over one of the most famous names in hip-hop. YoungMoney.com, a company that helps young business people properly manage their funds, is threatening to take away Lil Wayne's Young Money website.
In 2011, the name was sold to Wayne and company for $600,000, since the money management firm had the domain first.
However, there was one condition. Wayne had to keep making payments until the debt was settled or he would forfeit the name entirely. According to TMZ, he failed to do that and owes $250,000 to the money management company. As a result, the lawsuit was filed.
We'll see if Wayne pays up to keep the name, which serves as a destination to promote the roster of Young Money artists.