According to AllHipHop, Young Thug is in danger of losing his YSL brand to AEG, the world's largest owner of sports teams and sports events.
AEG has reportedly been locked in a legal battle with Young Thug since 2020 after they say he breached a contract signed in 2017, giving the company exclusive rights to all of Young Thug's concerts. AEG alleges that Young Thug took his $5 million advance and continued to book shows on the side, bringing in hundreds of thousands.
AEG’s lawyer, Kathleen Jorrie states in court documents obtained by AllHipHop, "Despite having granted AEG the exclusive right to promote Mr. Williams’ concert performances under the terms of the 2017 Artist Agreement, YSL and Mr. Williams immediately failed and refused to honor their respective obligations under the 2017 Artist Agreement by, among other things, disregarding AEG’s rights, performing concerts without AEG’s involvement, and retaining all proceeds generated therefrom."
AEG is now seeking ownership of Young Thug's YSL brand, as he put up his intellectual property as collateral in the agreement. They are also asking for a portion of his publishing catalog, the Young Thug trademark, and $6 million in damages.
AEG was granted a tentative trial date of October 24th, 2023, which will begin after Young Thug is tried on his RICO charges.
Source: AllHipHop
