Chief Keef's Deal With Interscope Records Revealed To Be Worth $6 Million

Chief Keef signed a three-album deal with Interscope Records worth $6 million.

After fielding a bidding war back in 2012 and inevitably signing with Interscope Records, Chief Keef dropped his debut album Finally Rich last month.

But the terms of the deal have remained undisclosed until now. DNAInfo.com has revealed that the three-album contract that Keef signed with Interscope could be worth more than $6 million. The contract was made public in a court filing that seeks a judge's approval to finalize agreements. The court's approval is required by law because Keef, who is 17 years old, is a minor.

Interscope agreed to pay Keef a $440,000 advance, giving half up front and half after a judge confirms the deal. The advance will be deposited into a court-administed "blocked" trust fund on his behalf that is controlled by his grandmother. Keef also received a $300,000 deal to cover the cost of recording Finally Rich. His deals depend on album sales, as Interscope has the right to pull out of the contract if he doesn't sell 250,000 copies of the LP by December 2013.

He also signed a separate deal to control his own label, Glory Boyz Entertainment, and received another $440,000 advance. Both Keef and his manager Rovan Manuel each receive $180,000 and own 40 percent of the label. Interscope must also pay GBE $200,000 for "overhead expenses," and will split profits equally with the imprint.

Upon release in December, Finally Rich bowed at No. 27 with 50,000 copies sold. Keef is currently serving a 60-day sentence for violating probation.

RELATED: Chief Keef Sued By Middle Schooler Over Child Support

Advertisement

83 Comments

  • swamp

    lol this nigga made a 360 deal didnt he? hes gonna be paying that shit all back and if he aint makin shit that sells right now hes gonna be back in the hood

  • Killer K

    You gotta have the personality of a dead moth to like this crap

  • nis

    From out Holland .. . dhem, i can not wait at the three-albums from Chief Keef.

  • da1

    Looks like Chief Keef wont be with interscope long when it comes to his albums records sales.

  • OUCH!

    so after 250,000 copies they see the $$$ coming in. interesting

  • Anonymous

    "he's a lot smarter than you think he's about his money" He's a real Mark Cuban ain't he? lol Seriously. Stop it. Keef can barely talk in interviews. He can barely rhyme in song. Who knows what possessed Interscope to front all this money to a 17 yr. old kid who has no work ethic. Good luck passing that 250,000 milestone which last time I checked was still nowhere near Gold. Either way you look at this Interscope is losing money. Maybe they recoup, maybe they don't, but moral of the story don't pay a punk kid in hopes millions of other punk kids take notice and plop down allowance money for an album with zero bangers.

    • Anonymous

      Interscope is actually concerned with saving money. Can you imagine what they'd have to pay someone who has real talent? This is an investment, if it pays off Interscope will do well. If if doesn't, they can write it off when the tax man comes calling. The saddest part of this is the images portrayed....when making 6 million dollars available for the kind of behavior shown by Chief Keef becomes a possibility, it can infect a culture in the most negative ways.

  • Anonymous

    And Joey Badass was asking for 3 milli, as dope as he is...smh at the public for supporting trash like Keef

  • YEBO

    JIMMY NEEDS TO RELEASE NEW EMINEM ALBUM ASAP, IF HE INVESTS LIKE HE HAS BEEN DOING LATELY, HE WILL END UP BROKE, CHIEF KEEF IS A FAILURE AND I DOUBT INTERSCOPE GOT ALL OF THE MONEY BACK, SLAUGHTERHOUSE WAS THE BIGGEST FLOP OR PAST 5 YEARS WITH BIG BUDGET FEATURES AND PRODUCTION, MAYBE THEY HAVE PUSHED LESS THAN CHIEF KEEF. BOTH TRASH RAPPER AND GROUP OF TRASH RAPPERS. STREET "KING" (LOL, HE ISN'T) WILL FLOP AS WELL, HE NEEDS TO DO SOMETHING. I RESPECT JIMMY'S HUSTLE OUTSIDE RAP MUSIC, BUT HIS RAP SIGNEES LATELY SUCK, EITHER THEY FLOP OR MAKE TERRIBLE MUSIC (OR BOTH).

    • doug

      Please explain your logic. Everybody you mentioned sold decent amount except Chief Keef. Jimmy got his cut off slaughter house. Dre is the one losing. Plus name a rap group thats selling....Ill wait

  • Vado

    So if he doesn't sell 250 000 by December does he gets dropped by the label?

  • Anonymous

    nigga got a 360...and on top of that he's gonna sign his friends to his label under interscope? They're gonna be broke as hell man

    • grand

      newsflash...nearly everyone has a 360 deal now, and everyone from here on out will probably have one. Read the book, "Everything You Need to Know About the Music Business" by donald passman

  • Gangster Crew Posse Syndicate: Are You Down With Me Nigga?

    This whole "Chief Keef" shit is a lie made up by the illuminati y'all can check that up there is no documents of this nigga prior to 2011

  • That Guy

    Why is it you can get a job at burger king at 15 but you need a court to allow you to sign with a record company. (Otherwise known as your employer... So, it is also a job. America is a weird place at times.

    • Anonymous

      i got a job at mcdonalds when i was 15 and my mother had to get a work permit for me from the school board. also, after all those child stars were bankrupt because of their parents spending all of their money, before they even turned 18, is the reason entertainment contracts had to change for minors, duh.

    • Guest

      You sign a legal document so either you have to be emancipated (become an adult) or have your parent sign for you.

  • Dale

    I'm pretty sure this is a 360 deal. Thats the only way Interscope can be sure of profits.

  • Anonymous

    funny how ppl talkin bout keef is broke etc. and he has made more money in 1 year that u make in 1 year.. not a big fan, im just saying..

    • lol

      i think some comments are reverse with bloggers..not to many ppl actually read the comments. noones hating on him for being broke.. there just breaking down the deal for what htey think even if its wrong bec ppl are only breaking the contract down not the shows and feautre money he has so he can prob cover the contract now if he wants and make ridicilous profit from other shows all year long.. that said his music bloowsss.. but he gets money noones disputing that rly in the comments

    • Anonymous

      most people dont care about the money he makes though. he can make 20 million dollars, the dude is still garbage as a rapper

    • Anonymous

      i dont think they make fun of him for being broke, just for being a whack rapper.

  • JERZZZ

    This clown gonna be broke paying that advance money off for the rest of his natural born years. Between entertainment lawyers, criminal lawyers, a 12 year old baby momma suing him for child support and album that went wood compared to the cash advance(not even counting the six mill).

  • LMAO

    Now I see why labels be 90 million in the hole and shit. They stupid as hell.

  • NITTY

    shame on you grown ass people for praying on this boy downfall

  • Get-Money Boi

    ............................................________ ....................................,.-'"...................``~., .............................,.-"..................................."-., .........................,/...............................................":, .....................,?......................................................, .................../...........................................................,} ................./......................................................,:`^`..} .............../...................................................,:"........./ ..............?.....__.........................................:`.........../ ............./__.(....."~-,_..............................,:`........../ .........../(_...."~,_........"~,_....................,:`........_/ ..........{.._$;_......"=,_......."-,_.......,.-~-,},.~";/....} ...........((.....*~_......."=-._......";,,./`..../"............../ ...,,,___.`~,......"~.,....................`.....}............../ ............(....`=-,,.......`........................(......;_,,-" ............/.`~,......`-...................................../ .............`~.*-,.....................................|,./.....,__ ,,_..........}.>-._...................................|..............`=~-, .....`=~-,__......`,................................. ...................`=~-,,.,............................... ................................`:,,...........................`..............__ .....................................`=-,...................,%`>--==`` ........................................_..........._,-%.......` ...................................,

  • Anonymous

    Bank son... If he makes it to 250,000 by December 2013, god bless him.

  • BLACK

    BE MAAAAD E-THUGS...BE VEEEERYYYY MAAAAAD!!!!!

  • Anonymous

    It's so funny how people, who will never see that kind of money in their lifetimes, are on here trying to talk trash.

    • rljunior

      to 2nd anon, you're an idiot please explain to us how he is in debt with the label???? 250,000 units is what the label is looking for to continue the project but he's already over 100k sold, thats over a million already. have you forgotten the i don't like remix put on Cruel Summer and the money he got off that, the money he gets off shows, the guys who shoot his videos are the people who have been shooting his video before he was even signed, local chicago dudes that he's helped put on. the kid sold over 100k when half the songs that made the album were songs he already had recorded (no interscope money) he's a lot smarter than you think he's about his money

    • Anonymous

      He's currently in massive debt to the label and will be dropped by the beginning of next year. So I really hope you are right, I don't want to see negative millions of dollars. Even if he was rich why does it matter? That doesn't make his music good.

    • huck

      lol...lets hope this yung boy learned about taxes

  • Anonymous

    Unbelievable lol Seems the dumber you're, the more lucrative it can be for you. Regardless, even one hit single won't be enough to keep Interscope funding this ass clown for very long.

  • chillthrills

    if he sold 106,000,,,,whole albums,,and interscope owns the pizza,,,then interscope made a million dollars already,,,labels arent stupid,,,they own the whole pizza,,,,so really all he has to do is work and hope heads buy into his image,,,cause the music is suspect at best,,,,a lot of dope singles make for a helluva greatest hits project,,,,,

  • DREALLDAY

    Wow, this guy's album is called finally rich. This goes to show you how rich is a relative term. I mean, getting $1.1 million when you have to pay back $880,000 is more like Finally in Huge Debt. I mean seriously, if I was seventeen, I'd probably take the deal. But I'm pretty sure my family or people who care for me would talk me out of a deal like this. It seems like the people around Keef have put enormous pressure on him. He's got one year to sell 200,000 copies of the record to stay in the deal. If he can't sell those copies then he has to make $880,000 in a year so he can pay back Interscope for the advances. To BREAK EVEN....Finally Rich, huh? Interscope just invested the lint in their pocket to make a kid feel like a big shot and promote bullshit behavior to America. Kinda makes you wonder how other major label rappers are getting paid...

    • Anonymous

      too bad hes in jail and cant enjoy it

    • You ain't never even seen $50,000 in your account lol

      Did your family talk you out of taking that minimum wage job when you were 17?? Chief made between $280,000-$320,000 after taxes on those 2 advances, not counting the other half of that $440,000. He charges $40,000 per show, so even if the label drops him today, he has already made more money than the oldest living person in your family, including you and your parents.

  • Anonymous

    not sure if an advance is a loan or not, but keef doesnt seem too smart. im sure hes gotten rid of 90% of that money already, its not a bad thing that hes making money but if i was given 100k plus when i was 16 years old and oblivious it would be gone before i could even count it. this music industry is not based off talent anymore and even his dumb not rhyming song dont like will soon be a faded memory. make sure you get your GED cousin so you can get a decent job when all this is over.

  • Anonymous

    Have fun getting dropped. This guy is so dumb, if he showed up to his video shooting he probably would have sold just enough to keep his deal.

  • Hip Hop please

    Too bad this kid is mediocre at best Real people want real music, The Jig Is Up

  • HipHop Savior

    Anonymous: You are totally right, he definitely made his money back. There is probably a reason why he is in jail. Trending topics =units moved = Money in bank! This is the future of HipHop we are in the era of the single!! Labels want to invest heavily into an artist and liquidate within a short period. There is no long money in the industry. There is this cat out there by the name of MASON and he is a genius and his songs are dope as hell. Do you guys think they want a guy like this in the industry to destroy everyone or they want more Cheif Keef's!!? Here is a video from MASON I found online tell me what you guys think!? HipHop Savior right here http://www.youtube.com/watch?v=7qwiwRzLFFg

    • Anonymous

      They were putting out singles back in the days, dude. The Treacherous Three put out many singles before their first album in 1984. Eric B & Rakim put out "My Melody" on Zakia Records before "Paid In Full" came out on 4th & Bway. And that Mason video is cool, but he's no savior. Twista already did that.

  • Hiphophead

    smh...jimmy iovine where the fuck is your head at? i give you credit for makin it possible to opt out of the contract but give this guy a fuckin label? give it to well deserved artists like PURE B4L4NCE who produce their own music,vids,graphic work,and have a huge crew of people who do all that called Classick Nobull Records, like a A4ap mob or wu-tang or odd future...THEY will sell out shows globally, they tell stories like big, can flow like any rapper, can make sick beats,and are bi-lingual..if THEY got 400,000 advance, they wud take over easily...find them on twitter @classick_nobull

  • jerryc

    pathetic...hes awful. Soon, when cd sales are completely irrelevant, it will be all about selling out shows. Someone like chief keef wont sell out anything mroe than a bar or a small theatre, regardless of if he can sell 100k. anyone today can sell 100k with labels promotions and one hot single. The only guys that can sell out big time arenas are guys who have longevity and a huge fan base. Eminem, Kanye, Wayne, Jay-z, Dre...

  • Fish

    As a fan I hate to say it, but there's no hope of 250,000 units being moved by December. Independent label this time next year Keef.

  • Anonymous

    He already made the album money back. You guys still are clueless to digital sales in 2013, do your research. You guys are the same people who think Nicki Minaj's re-release flopped.

    • ntrx

      and what if somebody sells a lot of just one song (a single) on iTunes? it doesn't influence the overall ALBUM sales, yet the money goes to the bank, right? wiz has a gold single off his new album, although the album is not gold and probably won't be soon. I bet it's the same with Keef; he doesn't sell as much albums as he does singles and this is where money comes from

    • Anonymous

      No i can not because ima nerd dumb ass.

    • an inquiring anon

      Last time I read and was informed, Billboard and Nielsen Soundscan post combined digital and physical sales. Would you be as so kind as to telling us the tally of Chief Keef's digital sales?

    • Anonymous

      ^^^ All sales combined still counts as long as it equals up to 250k units sold. If his singles sold 500,000 then it is a net positive. Who do you think you're dealing with here kid.

    • SMH

      SMFH! Those are ALL SALES COMBINED! LMAO... You know nothing about the business of music! If he doesn't recoup that deal is void! No money! Yo clowns read 6 million and ran with it... LMAO. Read again!

  • Anonymous

    they know he dont have much time left on this earth and when he dies they will really profit off him

  • LOUDconcepts

    This is inspiration, I respect this man hustle and talent. Interscope knows they got a gem with them , They not gonna drop Chief Keef just work on developing him as an artist to be more marketable. He penned two hit songs in 2012 before he was 18 , you can't deny that.

  • CHRIS

    ITS NOT ABOUT THE MONEY. THE TERMS WERE FOR ALBUM SALES. 250,000. HE FAR FROM THAT.

  • duval

    u guys ever heard of digital sales he made that money back off of dont like with singles plus kanye used it on his album he been recouped dat bread!!!!!

  • Anonymous

    Hate Being Sober is a dope song, but the idiot didn't show up at his own video, while 50 and Wiz are tryin to help make Keef push more units, now he got himself to blame. he nids a video for dat song asap to push the album

  • Anonymous

    keef better put out 4 more singles if he wanna sell another 150k to save his deal and career

  • Nick Vinson

    Finally Rich lol

  • Anonymous

    Smh these niggas just wasted 6 mill. When will these labels learn...

  • Anonymous

    he sold 7 thousand last week bringing his total to 106k, so keef needs to sell at least another 143k by the end of 2013 or his ass gets dropped

  • dumB

    It's not "worth" anything if he doesn't recoup and the fact he gave his manager 50% is sad. On top of that any advance given has to be recouped as well, so basically he has to make up for the half of the 440k that his manager made on top of his. All recording cost have to be recouped too, so that's another 300k, not to mention any videos/promos. There's no way he generated that off of selling a little over 100k. Interscope better hope to god this kid can tour cause they will never see that money back. Most of these artist don't understand that an advance is a loan.

  • LOLOLOLOLOLOL

    while we're at it...any chance this fucking dirtbomb will take a shower and wipe the boogers out of his nose when he gets out of juvi? LMFAO

  • Brandon

    Oh thank God he's potentially done...

  • Kreedos

    No way he sells 250k by December. Another artist to get dropped.

  • Anonymous

    Don't get mad! READ! The deal is "WORTH" 6 mill. He did not get 6 mill and wont because he won't recoup from album sales so Jimmy will pull the plug...

    • Anonymous

      you would think keef would work harder to cover album sales, but damn what an idiot. karmas a bitch, so is being a bad rapper

    • Cage

      THANK you. It's worth 6, but I doubt he'll be able to even make 00K after paying that advance money back

  • Anon

    The industrial prison complex must be in on this one.

  • LOLOLOLOLOLOL

    LOL! 3 of which is going to go to the grubby little 12 year old hoodrat that he knocked up...he better invest that other 3 wisely, he doesnt have a bright future in rap...dude is trash

  • yo

    Keef ...better sell some records when he get out..

  • griz

    seriously interscope? REALLY???

Most Popular News

Most Discussed News