A couple of weeks ago, the music industry was up in arms over Trinidad James signing to Def Jam for $3 million, but veteran T.I. just laughs at that figure. According to TMZ and our sources close to his camp, Tip is now a free agent as his contract with Atlantic Records ended a month ago, and he says that he’ll sign with a label that can drop a cool $75 million on him. The Atlanta rapper has been having meetings with various label heads in the hopes of securing his lofty goal.
Tip’s time with Atlantic Records has been well-spent though, as he released chart-topping albums such as Trouble Man: Heavy is the Head, Trap Muzik and King, since his 2003 signing with the label. Tip and his business partner, Jason Geter, also signed a lucrative multi-artist joint venture deal for his Grand Hustle imprint in 2005 with Atlantic, which includes a roster of artists such as B.o.B., Killer Mike, Trae tha Truth, Iggy Azalea and more.
But even after major success with Atlantic Records, it looks like T.I. may still be ready for a move. Sources told TMZ that Tip has already put together what he thinks a $75 million deal should entail, including:
– 3 albums
– 10-20 percent of publishing, touring, merchandise, film and TV rights
– Corporate endorsement deals
– Exclusive signing of all Grand Hustle artists
Sony has allegedly offered the “King” $50 million already and other labels such as Universal, Interscope and RocNation are putting in their bids too. T.I. and Dr. Dre were spotted having dinner at Katana in Los Angeles where we can assume that Dre tried to talk Tip into signing with Interscope. Let’s not forget that Atlantic isn’t completely out of the picture, as they could put a renewal offer on the table. Looks like there’s about to be a bidding war. May the odds be “ever in your favor”, Tip!
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That's how you go out…like a King!