Lil Pump Allegedly Renegotiates $8 Million Recording Deal With Warner Bros.
Warner Gang, Warner Gang, Warner Gang.
In between the hype of Lil Pump being in talks with Gucci Mane about signing to his 1017 Eskimo Records label, it seems the rapper just came back to where it all started.
TMZ reports that the “Gucci Gang” connoisseur just renegotiated his deal with Warner Bros. for a lucrative $8 million advance. He will allegedly receive $9,000 in the first year, $12,000 the following year, and $15,000 for the third through seventh contract years. While the contract appears to be binding, it appears he will earn 14 percent in the United States and also have “provisions that give him up to 66 percent in royalties depending on the format.”
Pump has been a free agent for a minute now receiving offers from Gucci Mane and DJ Khaled. He recently teased that a new record deal was about to be announced. “New deal on the way, bitch. New fuckin’ deal, bitch!” he exclaimed in an Instagram story. The rapper previously boasted that he wouldn’t sign to a label for less than $12 million. However, if this proves t be true Lil Pump may have to take back his words.
Although, an $8 million advance does sound like a lot of money to be receiving at the moment, it seems a bit foolish to me on behalf of Pump who has previously been offered mentorship and guidance by La Flare himself. Gucci has been known to own the masters of his recordings and have business ventures outside of making music that have kept him relevant within Hip-Hop for a very long time, so to have someone like GuWop on the back end putting Pump in positions that could potentially set him up for bigger things may have been the move to go with.
If this signing is true, Pump just proves to be another rapper who is in it to make a quick buck in my opinion. Popularity fades out quickly and does not ensure you a place within the Hip-Hop culture or music especially.