Cash Money Records’ shady financial dealings are well-documented, with artists like Mannie Fresh, Bangladesh, Jim Jonson and many others expressing anger over how the label handles its accounting.
A new story, perhaps trumping all the others, has cropped up in that regard. Wendy Day, the founder of the Rap Coalition and the woman responsible for getting Bryan “Birdman” Williams and Ronald “Slim” Williams their deal with Universal Music Group.
“Wendy Day ended up being very instrumental in huge huge deals that changed that balance of power in the music industry between the artist and the record company,” Dan Charnas, author of the upcoming book The Big Payback, explains.
“Master P’s deal for No Limit with Priority…she was instrumental in sheparding Eminem into the arms of Dr. Dre. But the biggest deal she ever did was Cash Money’s deal with Universal Music.”
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“Wendy hadn’t asked for money for any money until this point, but she was broke, and decided that she needed to start asking for a finder’s fee, which was five percent at the time – reasonable, the same thing that a lawyer would charge,” continued Charnas.
“The problem was, when Cash Money got their money, they didn’t pay Wendy Day. A short time later, two gunmen show up in the offices of …the lawyers for both Wendy Day and Cash Money, saying, ‘Somebody didn’t get paid. Somebody better get paid.'”
“Wendy Day says it wasn’t her, and at least one of her lawyers actually believes her.”
