The three-album deal is potentially worth $6 million
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.
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