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Chief Keef Blackballed By Jimmy Iovine?

January 24th, 2013

Jimmy Iovine By The Balls

Finally Famous, Rather Than Rich?

Chief’s Keef’s age appears to be getting the best of him. That’s because sources say the “Finally Rich” rapper can’t touch a dime of his rap dollars until he’s 18-years-old. Now, it appears Jimmy Iovine may have the lyricist by the balls!

But the real question is, will the money be there when Chief Keef turns age appropriate to receive his earnings? According to the rapper’s recording contract, the 17-year-old locked-up lyricist must sell at least 250,000 albums by the end of the year. If he doesn’t, documents reveal Interscope Records will pull the plug on his three-album, $6M dollar deal. This news comes shortly after Chief Keef’s debut album bombed in its first week, selling just 50,000 copies.

Here’s what’s being reported:

“The terms of Chief Keef’s record deal were made public in a Cook County chancery court filing that seeks a judge’s approval for the rapper to finalize agreements with Interscope.
Court approval of the contracts is required by law because Chief Keef, 17, is a minor.
Despite the huge contract, the majority of payments depend on how many albums he sells.

Chief Keef — who is currently locked up in juvenile detention for 60 days — also received at least $300,000 to cover the cost of recording ”Finally Rich,’ which sold 50,000 copies during the first week it was released in December.

Chief Keef’s deals all depend on album sales. If ‘Finally Rich’ doesn’t sell at least 250,000 albums by December 2013, Interscope has the right to pull the plug on subsequent album releases – two albums and a compilation of hits, according to the deal.
In a separate three-year deal to establish Chief Keef’s record label ‘Glory Boyz Entertainment’ — GBE for short — Interscope Records forked over another $440,000 advance.

That agreement calls for both Chief Keef and his manager, Rovan Manuel, to each be paid $180,000. The deal calls for 15-percent of Chief Keef’s advance to be put in his trust fund, according to court papers.”

Does Chief Keef have a baby momma — who’s in the 8th grade — currently suing him for child support? Of course. Don’t believe me.. Ask Rovan Manuel.



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31 Responses to “Chief Keef Blackballed By Jimmy Iovine?”

  1. crazychris |

    behold the bull god.

    el supreme.

    cronus.

    [Reply]

    Anonymous Reply:

    ok whiteboy. chill

    [Reply]

    Anonymous Reply:

    ok blackboy, kill

    [Reply]

  2. 600 |

    He still paid and gon keep gettin $$.. He gotta get his head rite tho.. .. He actually has a good deal, hope he doesnt fuck it up tho..

    [Reply]

  3. Keepitrealnotkeepinitreal |

    Thats why the industry fucks wit young dropouts. Cant read a contract. They will never sign an MBA.

    [Reply]

  4. Sumayyah |

    @600 please stay in school. He has a shit deal there is nothing good about this deal except that he has no access to his money until he’s 18. This way he won’t blow it on strippers,weed,cars, & jewlery before 18. Sweetie just some industry FYI an advance has to be paid back its not payment. Depending on the points he has in his contract he probably owes Interscope rather than them owing him. Anything advanced to him for his record deal or label he will have to payback. Then on top of that if he only sold 50,000 in the first week which is a flop there is no way he will reach 200,000 more by December which will void his contract. Album sales decrease as the year goes on not increase. All of you wanna be artist should learn the business before you get in it. Try reading Everything you should know about the music business. The game never changes just the players change.

    [Reply]

    Industry Advocate Reply:

    Everything you said is not necessarily true. Yes, @600 should stay in school. But, Selling 50k first week can get him to 250k by December depending on what he does when he gets out and how he tours and promotes his album. As wack as I think he is, he has a HUGE fanbase. He’s sitting on 105k now. If he drops another single and actively does shows during a lucrative Spring Break, plus his controversy stays hot during the next 6 months, he could sell another 150k easily. His production budget was easy because the album was done when he got to Interscope. Now as far as money for the label they agreed to finance for him, that remains to be seen on WHY they would do that. He has a fair deal, but the person that should be under fire is the guy that signed this dude! He’s not worth a contract like this. Internet Buzz, A single that was hot because of the All-Star remix that wasn’t on your album, controversy that shows you’re an internet gangsta, and nothing valid for Radio Spins does not make a good signing! SIngle deal maybe, but not the kind of deal he has! Industry FYI….Sumayyah should do they HOMEWORK!

    [Reply]

  5. gigi100 |

    FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!,FREE CHIEF KEEF!!

    [Reply]

  6. Choco aka Hippie |

    I hope he doesn’t sell any records I find him ignorant ugly and disgusting

    [Reply]

    Anonymous Reply:

    CO SIGN!

    [Reply]

    DEEP N THA WOODS Reply:

    double sign!! Ray Gudda, Teamgo sounds much better, Give him a deal!!!

    [Reply]

  7. Klw |

    It’s a vicious never ending cycle hip hop has been deaD These execs lure these young dummies in aNd enable them in every way they can nobody is going platinum anymore Internet killed that noise

    [Reply]

  8. 6Minutz |

    Since he’s a minor, a parent or legal guardian would have had to sign the contract as well. Which makes you wonder just how many adults are pimping this kid while his young life falls apart?

    [Reply]

    DEEP N THA WOODS Reply:

    His mother is on Mediafakeout showing gang signs.

    [Reply]

    CRAZYCHRIS Reply:

    GUESS SHE’S PROUD HER SON IS A SOME SORT OF STAR.

    [Reply]

  9. Fragrance |

    the phucked part is lil bro. carry too much drama for any assistance
    even if a industry vet wanted to step in to guide the lil homie
    lil homie got too much baggage.
    i hope he soon realize his potential of being young and get his head rite b4 its too late
    i know he act reckless but everyone should have a chance at redemption

    [Reply]

  10. MeMyselfAndI |

    Dang, Sosa!

    [Reply]

  11. CRAZYCHRIS |

    HIS MUSIC IS FOR 8TH AND HIGH SCHOOL FRESHMEN REALLY.

    THEY DON’T MAKE GANGSTER RAPPERS THE WAY THEY USED TO.

    [Reply]

  12. Anonymous |

    here comes KARMA

    [Reply]

  13. yadda yadda |

    I heard a couple tracks.. and I was suprised… not bad. not mindblowin either tho.

    Blame his production staff for not giving him a “theme” a guy with his “history”, should ve been laced with intros and interludes.. old folks talking bout the ghetto etc.. people wanna understand the mind of a ghetto 17 yr old with links to murder in Chi-town

    But maybe I was wishfully thinking..

    [Reply]

  14. thePisces |

    iCant stand Chief Queef wit his whack ass! Jimmy Ivene is the Devil!!! where is 50 Cent?? he loved Queef a couple months ago!!

    [Reply]

    Anonymous Reply:

    He love Keef when he thought he could teach the lil’ fool the business. I think 50 was done with him when he didn’t show up to his own video shoot.

    [Reply]

    BigArt3651 Reply:

    50 kind of stop fooling with him when he pulled a no show for a video.One day Keef is going to regret that he dint allow 50 to mentor him!It I was him I would have got rid of everybody around me famly or not and I would learned everything I have to know about this business from 50!How to act,perform,conduct interviws,dress,invest my money,i be sitting in business meetings whith his ass in the cut quit as hell just soaking up knowledge!I kind of feel sorry for lil dude,I just got this strong feeling that its not going to end well for lil dude!Did you see how his manager(uncle)talk?Straight up hood!

    [Reply]

  15. Anonymous |

    Yo, fuck this little nicca and his hood rat mama. Now the idiots are gonna start cryin’ for his freedom, just like larry hoover. Niccas always cryin’ for the jail doors to open to scum that wanna tear up they hood. sometimes, as a people we get what we deserve.

    [Reply]

  16. Love73 |

    Glory Boys Entertainment ( Gay Boys Entertainment ) Music industry = Devils Pit Epic Fail

    [Reply]

  17. crazychris |

    illegal only lasted one album.

    da youngstas fell off after their one album.

    kris kross after their 3rd album fell off.

    rap careers ain’t long.

    remember 2low he was scarface’s little brother he made only 1 album.

    shyheim the rugged child.

    [Reply]

  18. Missk |

    I have never heard of him. Like so many other acts .. he must have failed to realize that when record companies give you money it is an ADVANCE..meaning it must be REPAID when you start selling records. If you don’t sell records you will end up in dent to the record label. Everything that they do to you and give you ..YOU pay for.Nothing is free!

    [Reply]

  19. Missk |

    in debt

    [Reply]

  20. Informative C |

    I hate how the music industry is exploiting Chief Keef…..simply tragic!

    [Reply]

  21. Is Chief Keef’s Interscope Deal a Bust? Blackballed by Jimmy Iovine? Record Contact Details inside! | Renee the G |

    […] Chief Keef is dealing with all of the trouble that comes with the rep, and just like many other rappers blinded by the light, he thought he was invincible.  Aside from his legal woes, it has been reported that his huge deal will be another reason we might see Chief Keef shed a tear.  Check out this juice we found from the hollywoodstreetking: […]

  22. driz |

    Chief keef is done. Honestly i wud rather listen to artist like big krit,lupe, kdot that i can relate to. Listening hardcore gangsta rap dosnt mean u are a tough guy. It shows how lame and foolish u are. Grow up people.

    [Reply]

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