March 5, 2025
Details of the settlement were not revealed.
AEG (Anschutz Entertainment Group) and Atlanta rapper Young Thug have reached an agreement.
According to Billboard, the $5 million lawsuit filed by AEG has been settled after both sides entered a motion on Feb. 14 that the matter had been resolved. The judge finalized the agreement four days later.
Terms of the settlement were not disclosed.
Thug was sued by the company after it accused the YSL recording artist of defaulting on a loan given to his label back in 2017. AEG also claimed that it was left out of a $16 million sale of his music catalog, which it was entitled to share in the profits because the copyrighted songs included in the deal were supposed to be collateral for the loan given to YSL.
AEG said Thug owed the company more than $5 million.
The lawsuit was originally filed before Young Thug’s YSL Rico trial, where he was accused of running a criminal enterprise while committing several illegal acts throughout the years. After Thug’s arrest in 2022, the case was put on indefinite hold.
Following the rapper’s guilty plea, which led to a lengthy probation sentence, AEG went back to court to resume the lawsuit.
The lawsuit stated that Young Thug’s label, YSL, was given a $5.25 million loan in exchange for AEG obtaining exclusive global rights to promote live shows the artist would have performed. AEG was expecting the boutique label to pay back the money, plus interest, while sharing revenue from concert sales involving third-party promoters.
The entertainment company also claimed that Young Thug and YSL defaulted on the $5 million loan and misrepresented their finances to fulfill the repayment promises they agreed to.
It claimed that the “Hot” rapper made over $16 million in 2021 when he sold his stake in several hundred songs, leaving AEG out of the arrangement once the ownership of the copyrights shifted hands. Young Thug, AEG claimed, breached the contract when he told the buyers of the songs that the works sold were free of legal entanglements.
The rapper is heading to Belgium to perform his first post-prison show at the Les Ardentes music festival from July 3 to July 6.
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