Dame Dash is back at it again.
The Roc-A-Fella Records co-founder went on Instagram Live to talk about selling his shares of the legendary rap label and wondered just how much Jay-Z is willing to pay. “I don’t expect anyone, just some average person, to come buy it — or a third of it, my third. I don’t wanna get sued again,” he says at the beginning of the clip. “I know, for some reason, nobody wants me to sell it, but I’m ready to just move on, do my thing. I had a lawsuit, I had a judgement, and I’m like, ‘Yo, that’s 800 grand. Go get it from over there. They not paying me neither,” he said in regards to the Aug. 29 auction that’s taking place in order to satisfy the $823,000 he owes to movie producer Josh Weber.
Dame then brought up the fact that Jay has the option to block potential buyers and brought up the emergency meeting he and Biggs had to stop him from selling his shares. “I’m sure there’s a little twist they put on things. I don’t know why. I do know why, but I don’t know why. I don’t know why about one thing, but I do know why about the other,” he said cryptically. “[Jay-Z] has the first right of refusal. They had some bum-ass board meeting and all of a sudden he gets first right of refusal. I don’t really care. It don’t slow nothing down for me.” Adding, “Now I don’t know how deep homie’s pockets is. I’m curious if he’s gonna match that. I put an offer on the table, lemme see if he’ll match it. But it was from other people.”
Earlier this month, Billboard reported that although Jay and Biggs’ last minute attempt to change the company’s by-laws are unenforceable, there are still some stipulations. “Whomever buys Dame’s stake in Roc-A-Fella will be a minority owner without authority over any decision-making,” the source tells Billboard. “They won’t have the ability to sell the copyright or borrow against the master as all decisions require majority vote.”
There’s also the fact that Roc-A-Fella Inc.’s crown jewel Reasonable Doubt will revert back to Jay-Z in 2031 because copyright’s termination right allows him to control the rights of the album 35 years after its initial release in 1996. “There’s also an expiration date on the master ownership for the company, which means revenue and the only asset doesn’t have many years left,” the source also told Billboard.
Dame has recently been in the news for offering up an original Roc-A-Fella chain to anyone who bids over $10 million for his third of the company. “So if you do wanna buy one-third of Roc-A-Fella Inc., you are gonna have to bring some bread,” he said. “And anything over $10 million, I’m gonna sweeten the pot: you get an original Roc-A-Fella chain from off my neck.”
Thursday, Aug. 29 is going to be a crazy day on Rap Twitter.
Dame Dash is making headlines once again as he discusses selling his shares of Roc-A-Fella Records on Instagram Live. He questions how much Jay-Z is willing to pay for his third of the legendary rap label, sparking speculation and intrigue among fans and industry insiders.
The Auction Drama
Dame reveals his intentions to sell his shares, citing past legal issues and the upcoming auction to settle a debt. He expresses his readiness to move on and hints at potential obstacles, including Jay-Z’s right to block buyers. Despite the challenges, Dame remains determined to part ways with his stake in the iconic record label.
The Jay-Z Factor
Referencing an emergency meeting with Jay-Z and Biggs, Dame sheds light on the complexities of the situation. He cryptically discusses the first right of refusal granted to Jay-Z and speculates on the rapper’s response to his offer. As the auction date approaches, tensions rise as stakeholders await Jay-Z’s decision.
Roc-A-Fella’s Future
Billboard reports on the implications of the potential sale, highlighting the limitations faced by prospective buyers. The fate of Roc-A-Fella Inc.’s assets, including the iconic album “Reasonable Doubt,” adds another layer of complexity to the situation. With key decisions requiring majority approval, the future ownership of the label remains uncertain.
Dame’s Offer
In a bold move, Dame offers an original Roc-A-Fella chain to entice potential buyers bidding over $10 million for his stake. This strategic incentive adds a unique twist to the auction process, showcasing Dame’s determination to secure a favorable deal for his share of the company.
The Countdown Begins
As the auction date of August 29 approaches, anticipation builds within the rap community. The outcome of this high-stakes negotiation could reshape the landscape of Roc-A-Fella Records and the legacy it represents.
Conclusion
Dame Dash’s decision to sell his shares of Roc-A-Fella Records has sparked intrigue and speculation within the music industry. With Jay-Z’s involvement adding a layer of complexity to the situation, all eyes are on the upcoming auction and its potential impact on the iconic rap label.
FAQs
Q: What is the significance of Jay-Z’s right of refusal in the sale of Roc-A-Fella Records?
A: Jay-Z’s right of refusal gives him the power to block potential buyers and influence the outcome of the sale, adding a layer of complexity to the negotiation process.
Q: Why is the ownership of “Reasonable Doubt” a key factor in the sale of Roc-A-Fella Records?
A: The ownership of “Reasonable Doubt” holds significant value, with copyright laws allowing Jay-Z to control the rights of the album in 2031, impacting the future revenue and assets of the company.
Q: What unique incentive did Dame Dash offer to potential buyers of his stake in Roc-A-Fella Records?
A: Dame Dash offered an original Roc-A-Fella chain to buyers bidding over $10 million for his third of the company, adding a creative twist to the auction process.
Credit: www.billboard.com
