Young Thug Settles Lawsuit With AEG

The lawsuit that entertainment company AEG (Anschutz Entertainment Group) filed against Atlanta rapper Young Thug is officially over, as both parties have come to an agreement in the matter.

According to Billboard, the suit has been settled after both sides entered a motion Feb. 14 stating that the matter between them has been resolved. The judge finalized the agreement Feb. 18, considering the matter closed. The settlement agreement was 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 they were 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. They stated he owed the company more than $5 million.

The lawsuit was originally filed before Young Thug’s YSL Rico trial, accusing him 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 Thug’s guilty plea, where he was sentenced 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 them out of the arrangement once the ownership of the copyrights shifted hands. They stated that Young Thug breached the contract when he told the buyers of the songs that the works sold were free of legal entanglements.

The rapper is heading out to Belgium to perform his first post-prison show at a music festival, Les Ardentes, which is taking place from July 3 to July 6. He is headlining the third day on Saturday, July 5. The organizers stated that this is Thug’s first appearance at the festival in eight years. Tickets are currently on sale.