Specifics about Chief Keef’s record deal with Interscope records have been released. The details were made public because a judge needs to sign off on the deal since Chief Keef is minor. Reportedly, Keef’s three-album deal is worth a potential six-million dollars!! Whew Interscope will reportedly pay Chief Keef an advance of $440,000 that will be placed in a “blocked trust” controlled by his grandmother until he turns 18 in August.
The label also paid him more than $300,000 to cover the costs of recording his first album “Finally Rich.” The rest of the deal depends on album sales. If the record sells less than 250-thousand copies in a year, Interscope reserves the right to pull out. So far the album has sold over 106,000 copies since December.
Meanwhile, Interscope paid Keef an additional 440-thousand dollars to develop his own record label — Glory Boy Entertainment. Chief Keef is currently locked up for 60 days at a juvenile detention center for violating his probation.
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12 photos Launch gallery
1. #powerfallfest is lit 🔥
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2. @liluzivert x @power1075 x #FallFest x #KBFilms 🎞📽
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3. The homie @djlukenastyy in the building tonight at #PowerFallFest. I'm DJn his set so we bout to set Columbus on 🔥🔥🔥🔥 #DownWithTheKing
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4. 🔥🔥🔥 #powerfallfest
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5. lil uzi lit #powerfallfest
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6. Backstage at the #PowerFallFest @djbigbink and Vonzail @musiqman81 ..#bigbinkshow
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7. @lildonair with her "life sized" LilD sign 💁🏽
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8. #AboutLastNight #LilUziVert #RockStarLifeStyleMightDontMakeIt
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10. #we LIT!!!!!! #powerfallfest #bigbinkshow
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11. Hey Columbus @thedopedixon has you covered on all BTS of Fall Fest on that snap @ "Power1075" 👑
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12. #rp @LILDonAIR: "I said "hey @djmrking we should dress alike!" He said "that's corny." Then I see this 🙄 That's my dj doe!! #PowerFallFest
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