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Source: Interscope Records
Tampa Bay, did you know that after Chief Keef was taken into custody for violating his probation, the documents from court were leaked, and showed that the Chicago teen is making BANK! His deal with Interscope locked him in for 3 albums, but it came at quite a nice paycheck. The thing is, he won’t see that money until he’s 18…though that’s only less than 8 months away! Find out how much he got below.
Not only did Keef sign the deal for 3 albums, he also got a separate deal for his own record label…allowing him to bring in around $6 million in the next three years!
Though he won’t get the money until he’s 18, he did get a $440,000 advance (half up front and half after a judge signs off on the deal.) He also got at least $300,000 for album expenses. But…there’s a catch! If Finally Richdoesn’t move at least 250k units by December 2013 (which will have given it one full year on shelves…FYI it did 50k the first week out), Interscope can then void the contract of his future obligations…and money!
That’s just his solo deal, though. As for the deal for his own label, he got a separate three-year deal to establish Glory Boyz Entertainment, aka GBE. For that, he got yet another $440,000 advance.
Seems like he’s doing pretty damn well! You can read more details on his mula over at DNA Info. Hopefully these next few months in a juvenile detention center will straighten him out so he stays out of trouble and does some positive things with this money!