Young Thug Faces $6 Million Lawsuit From AEG For Booking Shows Outside Of Their Exclusive Concerts Agreement

Young Thug

Young Thug Faces $6 Million Lawsuit From AEG For Booking Shows Outside Of Their Exclusive Concerts Agreement

Young Thug’s latest trial date has nothing to do with the high-profile RICO charges he’s incarcerated for. 

Young Thug

Reports state that Young Thug is in a multi-million dollar battle with concert behemoth AEG, which puts him in a realm of depleting his resources. AEG is seeking the return of a five million dollar advance (plus interest/damages) for specific rights to Young Thug’s concerts. 

The ailments between the YSL rapper and AEG started before his incident with Georgia’s prosecutors. Back in December of 2020, AEG stated that the “Hot” rapper signed an agreement in 2017, accepting the considerable advance. However, the 31-year-old eventually breached their contract. AEG alleges that they had the rights to the rapper’s concerts but he proceeded to book shows on the side while collecting hundreds of thousands of dollars in performance fees. Kathleen Jorrie, AEG lawyer, explained:

“Despite having granted AEG the exclusive right to promote Mr. Williams’ concert performances under the terms of the 2017 Artist Agreement, YSL and Mr. Williams immediately failed and refused to honor their respective obligations under the 2017 Artist Agreement by, among other things, disregarding AEG’s rights, performing concerts without AEG’s involvement, and retaining all proceeds generated therefrom.” 

The company is demanding the rapper return their five million dollars plus interest with a breach of contract claim. They’re also asking that the rapper place his intellectual property rights as collateral in the signed agreement. AEG suggests that they have the authority to take over Young Stoner Life (YSL) brands, portions of his publishing catalog, and the rapper’s trademark to recoup the five million dollars given to Young Thug. 

Young Thug

Thug has denied the claims against him. The company and the rapper were set to appear in court to argue over the money toward the end of October but the trial was delayed when he was indicted on RICO charges. The new tentative date for the company and Thug to appear in court will be in October 2023. AEG is reportedly seeking six million dollars in damages, the rights to YSL, attorney fees, and the name Young Thug. 

As previously reported, Thug was arrested on May 9, in Georgia after being accused of conspiracy to violate the Racketeer Influenced and Corrupt Organizations (RICO). The rapper was hit with his first round of additional charges after Atlanta police raided his home in Buckhead and alleged he was the leader of the YSL organization. 

What are your thoughts on Young Thug possibly losing $6 Million and his YSL brand? Share your thoughts with us in the comments below.

[VIA]