"Mo' Money Mo' Problems" proves to be this rapper's mantra
It was Biggie that first identified that “Mo’ Money equals Mo’ Problems.”
And this definitely seems to be the case for rapper Travis Scott. According to TMZ, the Houston-bred lyricist is being sued by his former management company for a roughly estimated $2 million debt. LCAR Management is reportedly in the middle of preparing litigation against Scott who reportedly signed a three year contract back in 2014 with the management company, agreeing to give the company 15 percent of his earnings. They’ve added up Travis’s tab and according to their calculations they are still owed the million dollar price tag and have only received about $37,000 (basically, they have the receipts and they they want Travis to run them their money)!
Lyor Cohen, the owner of the LCAR, claims that the suit is being filed not just to collect on the past due balance but also to establish some clarity on just how much Scott has earned in the three year time period since he signed the agreement.
Travis claims he was self made
They say good help comes at a price but it doesn’t seem like Travis is willing to pay this go round.
Sources close to the rapper claim that his feelings of gratitude for the label’s “help” were few and far between. Apparently this source said that Scott shared with them that he felt the LCAR left him to manage his own career “barely lifting a finger to help.”
These same sources have also labeled the lawsuit as “ridiculous” seeing as how Scott ditched his former manager, Lyor Cohen, for a better company that has since assisted the budding rapper.
Rise to Fame
Whatever the case, the rising rap star’s fame has definitely seen a boost since he’s latched on to Kylie Jenner’s star.
Scott, who is reported to be dating the famous Kardashian-Jenner hybrid, has seen an increase in his notoriety since the the pair’s overnight connection. Much like her past partner, Tyga, it seems Scott also has problems with managing his fund-amentals.
Cohen’s company claims they are owed more than the measly $37K they’ve received in the matter of Scott’s past and present lucrative successes. And it’s no secret the young rapper certainly has been cashing in on pay days with main stage performances at Maxim’s Super Bowl Party and the ever popular Coachella Festival ,which recently wrapped in Indio, CA.
According to Travis he signed the agreement with his former management company in “good faith” that Cohen and his partners would be able to develop his career.
Much to his dismay however, it seems he was left to fend for his self doing the work he felt he had hired them to do.
Allegedly Scott made no efforts to end business dealings with LCAR before he made the jump to new management leaving him on the line and in the hole for a couple million dollars.