Memphis' Only Hip-Hop and R&B

 
 
 
 
For the latest news, keep it locked to K97!
Listen to Memphis' Only Hip-Hop and R&B: Online | iPhone | BlackBerry | Android | Windows Phone 7
Chief Keef Interscope recording contract revealed

The three-album deal is potentially worth $6 million
Friday, January 25, 2013

Listen to Cheif Keef on iHeartRadio

Information about Chief Keef's recording contract has been made public. An Illinois judge has to sign off on the deal by law, so it's a matter of the public record.

  • The three-album deal with Interscope is potentially worth $6 million, depending on record sales and other numbers.
  • Keef got $440,000 as an advance and more than $300,000 to record Finally Rich, which sold 50,000 copies in its first week.
  • Interscope reserves the right to void any subsequent album if Finally Rich hasn't moved moved 250,000 records by December 2013. So far, it has sold just 106,000 copies.
  • Chief Keef’s label under Interscope, Glory Boyz Entertainment, also received a $440,000 advance. If the label's losses exceed $4.5 million, it can terminate the Glory Boyz Entertainment part of the contract.

Keef is in juvenile detention for two months for violating probation. He'll go before a judge on March 14th and may be released from custody.

Photo Credit Getty Images