T.I.‘s contract with Atlantic records is up, and now the King of the South wants a king’s ransom to sign with another label. TMZ reports that Tip has an asking price of $75 million for him to sign a new label agreement.
According to the report, T.I. already has the kind of deal he wants to sign in mind: three albums; between 10 and 20 percent of publishing, touring, merchandise, film and TV rights; Corporate endorsement deals; and exclusive signing of all Grand Hustle artists.
Tip is said to have met with a few label honchos already, who may be willing to bite, including Dr. Dre of Interscope and Jay-Z of Roc Nation. Sony and Universal are also said to be interested.
T.I. was signed to Atlantic for 10 years and released his final album for the label, Trouble Man: Heavy Is the Head, last month.
I don’t see T.I. signing over his empire (Grand Hustle) to another rapper. I could definitely see him nab a deal with Def Jam (ala Kanye West and G.O.O.D. Music), meaning that Tip, Iggy Azalea, B.o.B., Chip, and co. would make a move to Def Jam. It’s an interesting move on Tip’s part. Can’t wait to see how this pans out.