Irv Gotti has just reached an epic $300 million deal under which he will give Iconoclast a 50 percent ownership stake in his masters in exchange for funding for a number of film and television projects.

In a shared on Instagram, Irv could be seen trying to hold back tears as he signed the ‘life-changing’ deal. The former head of Murder Inc. spoke with WorldStarHipHop about the deal and what it means going forward during the 2022 BET Awards.

Irv said: “I had a conversation with a billionaire friend of mine, my man Marc Lasry, he owns the Milwaukee Bucks, I’ve known him for like 20 years. He drilled in my head, ‘You can’t sell what you don’t own,’ and it resonated with me.”

He went on, “I’m signing a deal worth $300 million. I’ma tell you what it is: $100 million of the deal is me selling my masters. What my billionaire n-gga was saying, he’s absolutely right. 20 years later, my masters — and I only own half, I own 50-50 with Universal Music Group — half my masters is worth $100 million. That’s f**king insane!”

Adding, “Not only is the company buying my masters, but they’re giving me like a $200 million line of credit for me to not just produce and create, but now own my television [properties].”

Mingle