Update:
Lil Pump told his fans via social media that he's receiving 8 million dollars for one project. Moreover, he addressed his "haters", mocking that their favorite rappers aren't signing multi-million dollar deals."...but your favorite artist ain't getting 8 million for a single project," Pump expressed.
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Fans of Lil Pump have been wondering for a couple of months now as to where the "Gucci Gang" rapper would end up after it was revealed in January that his deal with Warner Bros. music was invalid because he signed it as a minor.
Since then, rumors have swirled that Pump was preparing to sign with various labels, though in late January the Miami rapper said he wouldn't do a deal for less than $15 million.
"If you ain't got 15 [million], don't talk to me," he told a TMZ cameraman. "I don't want no meetings unless you talkin' 15 and up!"
It appears, however, that Pump was willing to settle for a little over half that amount. According to TMZ, the rapper has returned to Warner Bros. where he secured a recording contract for $8 million, and despite still being only 17, this time it's binding.
The contract stipulates that Lil Pump will receive an $8 million advance, followed by $9,000 for the first year, $12,000 for the second year, and $15,000 for years three through seven. Pump will also receive 14% royalties in the U.S., with certain provisions giving him up to 66% royalties depending on the format.
Source: tmz.com
