Nelly Closes $50M Deal Reportedly Selling Off Half Of His Music Catalog
St. Louis-bred recording artist Nelly has agreed to sell portions of his extensive music catalog.
According to Variety, Cornell Iral Haynes Jr., who uses Nelly as a stage name, has partnered with HarbourView Equity Partners, which has purchased half of the music he has recorded.
In a written statement, Nelly said, “As artists, we put our heart and soul into each track, and there comes a time when you consider preservation of that artistry. 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.”
TMZ reported that the deal is worth $50 million, with the artist giving up 50% ownership over his whole catalog.
Harbourview Equity Partners is an asset management company founded by Sherrese Clarke Soares.
“This catalog has made an incredible impact on generations of fans,” Soares said. Works such as, ‘Hot in Herre’ and ‘Shake Ya Tailfeather’ defined an era of music of a unique blend of hip-hop, R&B, and country music that is undeniable. We are thrilled to add these influential pieces to our repertoire and work with the team to continue supporting the artistry within our ecosystem.”
Nelly has created many chart-topping hits and has won three Grammy Awards and three American Music Awards. He is still performing and has recently released his eighth album, Heartland. Unlike his previous ones, this new album is country-inspired.
The business world has been extremely kind to Nelly, but he’s also winning in the romance department. Ten years after breaking up with fellow recording artist Ashanti, with whom he had a serious romance between 2003 and 2013, the two have reportedly gotten back together to give love another chance.