While there are as many as three major labels battling it out to sign Drake, the Toronto-born MC signed to Lil Wayne’s Young Money label is close to signing a deal with Universal Motown, a source close to the negotiations confirms. Sources say three majors are in possibly “one of the biggest bidding wars ever” in hopes of signing Drake, including Universal Motown and Atlantic Records. The presence of Warner Music Group’s CEO Lyor Cohen and COO Julie Greenwald at Drake’s New York show at SOB’s further intensified the speculation that they were making a serious play.
Although another source says Universal is the closest to snagging Drake, especially given the already established relationship between Cash Money/Young Money and the label, another label has allegedly offered $2 million dollars up front in order to further persuade the young artist to join its roster instead.
“Just know that whatever label we sign to it’ll be because they’ll add to what we’ve created on our own,” Drake, who offers no clues about which label he’ll choose to sign with, told Billboard.com last month. “I am very happy in my situation now, which is signed to Cortez Bryant and Gee Roberson at Young Money and management through ‘Hip Hop Since 1978.’ The most important thing for me is being around my team – they are stronger than any label.”
source Billboard
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