“Young Thug Hit With $6M Lawsuit From AEG Presents As RICO Case Looms”
The company is seeking the return of a $5 million advance for the exclusive rights to all of Young Thug’s concerts. In December 2020, AEG claimed Thugger signed an agreement in 2017 that came with the exorbitant advance, but he allegedly breached the contract.
AEG claimed even with the rights to Young Thug’s concerts, he continued booking shows on the side for hundreds of thousands of dollars in performance fees.
As AEG lawyer Kathleen Jorrie explained, “Despite having granted AEG the exclusive right to promote Mr. Williams’ concert performances under the terms of the 2017 Artist Agreement, YSL and Mr. Williams immediately failed and refused to honor their respective obligations under the 2017 Artist Agreement by, among other things, disregarding AEG’s rights, performing concerts without AEG’s involvement, and retaining all proceeds generated therefrom.”
The company also said Young Thug put up some of his intellectual property rights as collateral in the agreement. Subsequently, AEG thinks they “have the right to take control of the Young Stoner Life brands, portions of his publishing catalog and the Young Thug trademark” to recoup the $5 million.
AEG and Young Thug were expected to battle it out in court on October 25, but Thug was arrested on RICO charges in May. Last month, AEG’s legal team asked a judge for a one-year extension, which was granted.
The trial is tentatively set for October 24, 2023. AEG is seeking at least $6 million in damages, the rights to YSL, the name Young Thug and attorney fees. As for the RICO trial, Young Thug is scheduled to appear in court next January.
But that’s not even all of Young Thug’s legal woes. Last week, he was sued for $150,000 over an Atlanta concert that was scheduled to take pace in June at the State Farm Arena. Due to his arrest, he was unable to fulfill his obligation and the promoters want their deposit back.
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