Dame Dash has offered a special incentive to potential buyers of his shares in Roc-A-Fella Records — but only for a certain price.
Dame revealed on Instagram on Monday (August 19) that if the auction for his one-third ownership of the label crosses the $10 million mark, he will gift the buyer their own Roc-A-Fella chain.
He wrote: “Roc-A-Fella Inc. which only asset is Reasonable Doubt is for sale. A lot of people have made interesting offers but please only inquire if you are serious. If it goes for over 10 million that person will receive an original Roc-A-Fella chain.”
In the accompanying video, Dash added: “As we all know, one-third of Roc-A-Fella Inc. which owns Reasonable Doubt is for sale and I’ve gotten a lot of calls, a lot of offers. I’ve definitely got some very healthy offers and I appreciate those.
“And obviously if someone’s trying to hate on the price or trying to devalue it, it would be because they want to buy it. You know, like a first right of refusal,” he added, seemingly referencing his former business partner JAY-Z.
“So if you do wanna buy one-third of Roc-A-Fella Inc., you are gonna have to bring some bread. And anything over $10 million, I’m gonna sweeten the pot: you get an original Roc-A-Fella chain from off my neck.”
Dame Dash’s shares in the company go up for auction on August 29, with proceeds from the sale used to satisfy a nearly $1 million debt Dash owes film producer Josh Weber after he was sued for copyright infringement and defamation.
Dash is being forced to sell his shares by the judge who oversaw the legal dispute, though Roc-A-Fella co-founders JAY-Z and Kareem “Biggs” Burke previously objected to the public auction, claiming it went against the company’s bylaws.
Dame Dash Claims JAY-Z Was ‘Double Dipping’ From Roc-A-Fella
Hov has also filed that regardless of who purchases the shares, ownership of his 1996 album Reasonable Doubt reverts back to him in 2031.
Dash appeared to deny this was the case, writing on social media: “They can say what they want, this shit is still for sale. You’re not buying a copyright, you’re buying a piece of a company ROC A FELLA INC.”
The minimum bid for Dame’s Roc-A-Fella shares cannot be less than $1.2 million in order to cover his debt and then some.
It is not known what happens if the shares fail to sell at auction or if Jay and Biggs are going to bid for the remaining third of the iconic record label.
Dame Dash is offering a special incentive to potential buyers of his shares in Roc-A-Fella Records, but there’s a catch – it’s only available for a certain price. On Instagram, Dame revealed that if the auction for his one-third ownership of the label surpasses the $10 million mark, he will gift the buyer their own Roc-A-Fella chain. Interested in owning a piece of music history? Read on to learn more about this unique opportunity.
Dame Dash’s Offer
Dame Dash took to Instagram on Monday (August 19) to announce a special offer for potential buyers of his shares in Roc-A-Fella Records. If the auction for his one-third ownership of the label reaches over $10 million, the buyer will receive their very own Roc-A-Fella chain. In his post, Dame stated, “Roc-A-Fella Inc., which only asset is Reasonable Doubt, is for sale. A lot of people have made interesting offers, but please only inquire if you are serious. If it goes for over 10 million, that person will receive an original Roc-A-Fella chain.”
Video Announcement
In a video accompanying his Instagram post, Dame elaborated on the sale of one-third of Roc-A-Fella Inc., which owns Reasonable Doubt. He mentioned receiving numerous calls and offers, with some very healthy bids. Dame also addressed potential detractors, suggesting that those trying to devalue the price may have ulterior motives, possibly hinting at his former business partner JAY-Z. He emphasized the need for serious buyers to bring substantial funds to the table, with a sweetener of an original Roc-A-Fella chain for bids exceeding $10 million.
Upcoming Auction
Dame Dash’s shares in Roc-A-Fella Records are set to go up for auction on August 29. The proceeds from the sale will be used to settle a nearly $1 million debt owed by Dame to film producer Josh Weber following a legal dispute involving copyright infringement and defamation. Despite objections from Roc-A-Fella co-founders JAY-Z and Kareem “Biggs” Burke regarding the public auction, the judge overseeing the case has mandated the sale of Dame’s shares.
Dame Dash Claims JAY-Z Was ‘Double Dipping’ From Roc-A-Fella
Ownership Details
JAY-Z has asserted that regardless of who purchases the shares, ownership of his 1996 album “Reasonable Doubt” will revert back to him in 2031. However, Dame Dash has refuted this claim on social media, stating that the sale is still on and buyers are acquiring a piece of Roc-A-Fella Inc., not just a copyright. The minimum bid for Dame’s shares must be at least $1.2 million to cover his debt and additional costs.
Future Scenarios
It remains uncertain what will happen if Dame’s shares do not sell at auction or if JAY-Z and Biggs will bid for the remaining third of the iconic record label. The outcome of the auction will have significant implications for the future of Roc-A-Fella Records and its legacy in the music industry.
FAQs
Q: What is the minimum bid for Dame Dash’s Roc-A-Fella shares?
A: The minimum bid for Dame’s shares is $1.2 million to cover his debt and additional expenses.
Q: What happens if the shares fail to sell at auction?
A: The consequences of the shares not selling at auction are currently unknown, raising questions about the future ownership of Roc-A-Fella Records.
Q: Will JAY-Z and Biggs bid for the remaining third of the record label?
A: The potential involvement of JAY-Z and Biggs in bidding for the remaining third of Roc-A-Fella Records remains uncertain, adding intrigue to the upcoming auction.
Credit: hiphopdx.com
