Drake Signs New Deal With Universal Music Group E! News UK

Drake has reached a major new deal with bosses at Universal Music Group (UMG).

During a company earnings call on Tuesday, CEO and Chairman Lucian Grainge confirmed that executives have signed an expansive deal with the rapper, which is expected to include recordings, edits, merchandise and other projects.

Although Grainge hasn’t announced the value of the contract, an insider told Variety that it’s “LeBron’s size” – referring to legendary basketball player LeBron James.

Drake would bring UMG $50m (£40m) each year, and the deal could potentially be in the region of $400m (£320m).

The One Dance hitmaker himself apparently references the negotiations in his songs Lemon Pepper Freestyle and The Remorse – both released in 2021 – meaning the deal has been in the works for some time.

In Lemon Pepper Freestyle he raps: ‘Three sixty from the start, it’s full circle’, apparently hinting at the $360m (£288m) figure, while in The Remorse he states “Billionaires talk to me differently when they see my Lucian Grainge payslip.”

Representatives for Drake and UMG have not officially commented on the news.