The Rap mogul signed with the company in 2004.
50 Cent is asking for the details of his Vitamin Water deal to not be made public during his bankruptcy proceedings, The Jasmine Brand reports.
50 Cent says that if these details are revealed to the public, it would give companies the upper-hand in negotiating future partnerships with him and would ruin his career.
The New York rapper signed with Glacéau, the owner of the beverage company, in 2004. He was responsible for being the face of the brand in exchange for a small share.
According to the court documents, 50 Cent says that when Glacéau was purchased by Coca-Cola in 2007 for $4.1 billion, he signed a new deal with Coca-Cola allowing them to continue using his image and likeness to promote the brand. He was reportedly paid $100 million for the buyout of his share in Glacéau. The deal with Coca-Cola ended in 2009 and included a non-disclosure agreement that prohibits anyone from releasing the details of the rapper's earnings.
50 Cent filed for bankruptcy in July. He has lost multiple lawsuits and been ordered to pay $7 million to Lastonia Leviston, who has a child with Rick Ross and, in a separate case, must pay more than $16 million to Sleek Audio.
For additional 50 Cent coverage, watch the following DX Daily:
http://hiphopdx.com/news/id.35569/t...eal-details-to-not-be-used-in-bankruptcy-case
what's wrong with this man? is this guy's life a complete lie?
50 Cent is asking for the details of his Vitamin Water deal to not be made public during his bankruptcy proceedings, The Jasmine Brand reports.
50 Cent says that if these details are revealed to the public, it would give companies the upper-hand in negotiating future partnerships with him and would ruin his career.
The New York rapper signed with Glacéau, the owner of the beverage company, in 2004. He was responsible for being the face of the brand in exchange for a small share.
According to the court documents, 50 Cent says that when Glacéau was purchased by Coca-Cola in 2007 for $4.1 billion, he signed a new deal with Coca-Cola allowing them to continue using his image and likeness to promote the brand. He was reportedly paid $100 million for the buyout of his share in Glacéau. The deal with Coca-Cola ended in 2009 and included a non-disclosure agreement that prohibits anyone from releasing the details of the rapper's earnings.
50 Cent filed for bankruptcy in July. He has lost multiple lawsuits and been ordered to pay $7 million to Lastonia Leviston, who has a child with Rick Ross and, in a separate case, must pay more than $16 million to Sleek Audio.
For additional 50 Cent coverage, watch the following DX Daily:
http://hiphopdx.com/news/id.35569/t...eal-details-to-not-be-used-in-bankruptcy-case
what's wrong with this man? is this guy's life a complete lie?
