Chief Keef is looking to cash in on an eight-figure deal for his Glo Gang imprint. Sosa’s manager Uncle Ro revealed the financial details of the pending deal via IG.
“@chieffkeeffsossa uncleromgmt GloGang $25,000,000 on the way for the new deal hahahaha,” the caption on the post read.
Chief Keef has been promoting his new flagship record label Glo Gang for the past few months.
Sosa announced GBE was no more after taking to Twitter to announce he was looking for new artists for his label.
“Now signing Street n----- Only Alabama. Detroit. LasVegas. Bay AreaCa. And Lot more U gotta be Turnt up #GloGang New label Nomoe GBE,” he wrote.
Capo also stated GBE was done.
“I’m GloGang Not Otf Or Gbe,” he wrote.
Chief Keef initially secured a separate three-year deal with Interscope Records to build the GBE brand.
Sosa and former manager Uncle Ro, who both owned 40 percent of GBE, received a payout of $180,000, according to DNAinfo.com. Fredo Santana owns 10 percent interest in GBE and was paid a $40,000 advance.
Sosa has a couple more family members with their hand in the deal, including uncle Alonzo Carter and Anthony H. Dade who each hold 5 percent interest.
Interscope reportedly provided the GBE label $200,000 for “overhead” expenses, which include office, travel, entertainment and “salary cost” and marketing.
The profits between GBE and Interscope were to be split down the middle.
Sosa has been promoting the label with ink and jewelry
Sosa recently got extensive tattoo work done on his torso and arms in honor of his new label.
Sosa additionally called up his favorite jeweler Johnny Dang to hook him up a white and yellow diamond encrusted “Glo Gang” charm.
The finished product displays the sun sipping lean.
Sosa is riding hard for his new label, stating it’s Glo Gang over everything else.
“B---- I’m GloGangEbk,” he wrote on Twitter.
Sosa may again be laughing to the bank if his eight-figure deal is indeed true.
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