Rapper Nelly Rakes In $50 Million In Sale Of Famous Music Catalog
By Fiyin Olowokandi on July 14, 2023 at 10:00 PM EDT
Nelly, whose real name is Cornell Iral Haynes Jr., has made quite the name for himself in the entertainment industry for nearly three decades, beginning in 1993 with the hip-hop group St. Lunatics.
Although the classic rapper returned to the limelight with the release of his 2021 album "Heartland," he is making headlines again by selling half of his music catalog in a deal worth millions of dollars.
Nelly Sells Half Of His Music Catalog For $50 Million To HarbourView Equity Partners.
On Wednesday, July 5, Nelly, 48, and his legal team finalized a deal with HarbourView Equity Partners to purchase "select" recorded-music assets of his.
A rep for the asset-management corporation founded by Sherrese Clarke Soares confirmed the news to Variety. However, further details of the deal were not divulged. Still, reports shared that the agreement covered 50% of the "Air Force Ones" rapper's recorded-music assets and was worth $50 million.
The sold catalog was said to have included a couple of his famous tracks, namely "Ride Wit Me" and chart-topping tracks "Dilemma" featuring Kelly Rowland and "Hot in Herre." Nelly, who was represented by Steven Shapiro of Davis Shapiro Lewit & Grabel LLP, had something to say about the contract, expressing delight to partner with HarbourView to immortalize his music.
"As artists, we put our heart and soul into each track, and there comes a time when you consider preservation of that artistry," he said in a statement.
"My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with Harbourview to create opportunities for discovery of my music decades from now."
The company's founder Soares added her take, noting that the hip-hop star's music legacy "has made an incredible impact on generations of fans." She also credited some of his works like "Hot in Herre" and "Shake Ya Tailfeather" for defining "an era of music of a unique blend of hip-hop, R&B, and country music that is undeniable."
In conclusion, the investor proclaimed, "We are thrilled to add these influential pieces to our repertoire and work with the team to continue supporting the artistry within our ecosystem."
Throughout Nelly's music career, he has featured several A-list collaborators, including Janet Jackson, Nicki Minaj, Pharrell Williams, and Usher. Moreover, the three-time Grammy Awards winner is one the first rappers to delve into the country music scene with his eighth studio album and first fully country-inspired project, "Heartland."
In addition to his catalog, HarbourView has acquired a few others from artists in recent years, including country musicians Brad Paisley and Lady A, alongside rock band Incubus.
"Heartland," which features male country musicians like Kane Brown, Breland, Tyler Hubbard, and more, seems to be the first of many yet to come in Nelly's country music exploration as he plans to release another album collaborating with only female country music stars.
As Music Times reported, he spoke to Audacy's "Rob + Holly" about the upcoming project, revealing that it will be a second part of "Heartland." The "Dilemma" singer stated, "Heartland 2, the project that I'm working on now, that's the women of Country music. That'll be all my collaborations with women of Country music."
Although he did not name anyone that may appear on the album, he promised more information would be shared in due time. He also appreciated the country music community for letting him "come to the picnic."
The 'Party People' Rapper Was Rumored To Have Gotten Back With His Ex Ashanti
As Nelly preps for the release of his second country-inspired album, he seems to have rekindled his relationship with his ex Ashanti whom he was previously involved with for about a decade.
Earlier in April, the duo was spotted seated together watching the Gervonta "Tank" Davis vs. Ryan Garcia fight at the T-Mobile Arena in Las Vegas. The power couple of 2000s hip-hop were also seen holding hands as they left the venue, immediately sparking speculations about them getting back together twenty years after they first became an item.
The following day, Nelly and Ashanti had a joint performance at the crowded TAO Beach Dayclub, where they sang their 2008 hit, "Body On Me."
During their performance, the 42-year-old songstress was noticed dancing on the father-of-four, thereby adding to the rumors about their rekindled romance.
