Lil Wayne has some legal issues on his hands. He didn’t get caught with drugs or violate probation per usual, this time he forgot to pay a bill. Now before you go thinking its something simple as a phone bill or utilities, lets clarify that it is the bill to hold the Young Money name.
Before there was Young Money Entertainment, there was youngmoney.com (FUN FACT)! Youngmoney.com was a website that helped young entrepreneurs manage money, hence the name “young money”. In 2011, the company that owned the website sold the name to Wayne for $600,000, and added stipulations to the sale. Wayne had to make payments, and if one was not on time, the name would go back to the seller.
Being that Wayne is late on his payments, now totaling a $250K balance, the original seller is suing and wants the name back.
Wayne has yet to respond to news of the suit or make a payment.
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