The teenage rap star won’t be able to spend most of his big-money pay check until he turns 18 in August, DNAinfo.com has learned.
Chief Keef signed a three-album contract — and a separate deal to control his own record label — with Interscope Records that could pay the South Side gangster rapper more than $6 million over three years. A split of future royalties could make for an even bigger pay day, according to court papers…
…Interscope agreed to pay Chief Keef a $440,000 advance — half up front and half after a judge signs off on the deal — that will be deposited in a court administered trust fund on his behalf, according to court papers. The so-called “blocked trust” is controlled by Chief Keef’s legal guardian, his grandmother, Margaret Carter. Withdrawals typically are prohibited from block trusts until a minor turns 18.
Chief Keef — who is currently locked up in juvenile detention for 60 days — also received at least $300,000 to cover the cost of recording “Finally Rich,” which sold 50,000 copies during the first week it was released in December.
Chief Keef’s deals all depend on album sales. If “Finally Rich” doesn’t sell at least 250,000 albums by December 2013, Interscope has the right to pull the plug on subsequent album releases — two albums and a compilation of hits, according to the deal.
In a separate three-year deal to establish Chief Keef’s record label “Glory Boyz Entertainment” — GBE for short — Interscope Records forked over another $440,000 advance. That agreement calls for both Chief Keef and his manager, Rovan Manuel, to each be paid $180,000. The deal calls for 15-percent of Chief Keef’s advance to be put in his trust fund, according to court papers.
How much does an album usually cost to record, mix, and master?
For some reason $300k seems about right. Especially after you consider the production costs and the features.
I don't think 50 got much since he has all the money in the world. I think he did it on his own accord. I'm sure the other features cost him most of the $300k.
he could of saved a lot of money by getting rid of those horrible features on hate bein sober, would have been a 10x better song, actually im really curious how much a 50 and wiz feature costs
risotto with a nice ossobuco is delicious, terrible opinion famLove cooking, love just about all food, would eat just about anything, but Risotto is fuckin terrible.
Damn this is nice. Danny and Q's album are definitely my most anticipated of this year. Even if Kanye announced an album it would be those 2 by far.
Damn this is nice. Danny and Q's album are definitely my most anticipated of this year. Even if Kanye announced an album it would be those 2 by far.
Seems like a smart dude, understanding how people will gravitate to familiar melodies and all. Clearly paying off too.http://www.youtube.com/watch?v=mWeZ7ZMqgBM
Mike Will on Power 105.1 talking about his single with Lil Wayne and working on Mercy.
This song is tough.
Yeah, definitely. Been jamming to it non-stop all day.The Rockie Fresh tape is surprisingly dope. Yeah he's not a memorable rapper, but the beats bang and the hooks are nice. Perfect car music.
Action Bronson is such a likeable rapper.
There's no way he's gonna hit 250k sales hahahaha dude is done for.chicago court released the details of keef's deal. interesting stuff since i've never seen one of these before.
any other deals been put out like this? i'd love to see how these things actually work. i guess 250K is officially the benchmark for a new artist these days.
"Very 2013". What does that mean Nasir? Trap nas??
Hit-Boy - Fan (Remix) ft. 2Chainz. This was probably the best song on the mixtape he put out. Sounds like a radio (clean) rip. But I bet this is dope dirty.
There's no way he's gonna hit 250k sales hahahaha dude is done for.
Re-connect?
Was Nas Frank Ocean's first love?
Action Bronson is such a likeable rapper.
that duck testicles bit was hilarious
risotto with a nice ossobuco is delicious, terrible opinion fam
So how would people find out how much an album cost? Really interesting to me.
Like how much would something like GKMC cost? Strange how we can find it out so easily in movies, but it's more difficult in the music game.
Baby food. Tastes like mush. Rice > Risotto any day.
Didnt you mention hating vodka yesterday?
Baby food. Tastes like mush. Rice > Risotto any day.
Didnt you mention hating vodka yesterday?
I remember this about MBDTF:Yeah, honestly it would be pretty interesting to know budgets for albums.
yeah, vodka is bottled industrial waste runoff
btw it's not supposed to be mushy, it's supposed to be creamy, rich, satisfying.
OK, pic looks good despite being scurred to do a meal with no features. Maybe as a side, only things I don't really eat are cilantro, non torso based pig parts and risotto. Vodka Gimlets are still the shit.
pacspit.gif
boiled rice >>>>>
Everything you eat is delicious. pacspit really? Julia Child said cilantro was the one thing she doesn't eat.
edit: bro pigs head/feet are dope
had head cheese, never tried feet,
Julia Child should get her tongue cut off then.Everything you eat is delicious. pacspit really? Julia Child said cilantro was the one thing she doesn't eat.
Julia Child should get her tongue cut off then.
acspit: Julia Child
Cilantro is pretty terrible fam.
First off, Julia Child, no shit, was my hero. Talk bad about her again and I will end your entire existence with a fury previously unseen on this earth. I will fucking erase you.
Secondly, Vietnamese food? Vietnamese food is delicious.
You are wrong. or rather. your tongue tastes the aldehydes in cilantro and your brain reinterprets that as eating soap. so your body is wrong.Cilantro is pretty terrible fam.