Kanye West is reportedly considering his options as he searches for a way to sell his catalog of songs worth millions.
According to a report Billboard released on Monday, September 19, Kanye is currently shopping his publishing catalog. For the past 10 months, the rapper-producer and his team have been silently meeting with selected potential buyers to find out the maximum amount he can get for his catalog, which brings in at least $5 million a year. Although there is no exact price attached to his vault of records at this time, Ye is looking to make at least 35 times gross profit.
In an effort to sweeten the deal, the potential buyer will also have the option of striking a publishing deal with Ye. The report of Ye’s intentions to sell his publishing catalog comes after he entered a new phase in his battle with Adidas and Gap, the latter of which recently ended its partnership with the fashion designer.
Earlier this week, the Chicago native took to Instagram to reveal a list of restrictions of the two brands sent to him after he expressed his desire to go solo with Yeezy. The document, which reads “Summary of restrictions on Yeezy’s standalone business under a license and endorsement agreement with Adidas and a strategic agreement with Gap” in the top header, essentially prohibits Ye from pursuing other footwear, apparel, and accessory projects that specifically involve items that use “design that copies or resembles any design used for Yeezy by adidas or Yeezy Gap products.”
Over the past few months, Ye has used his social media platforms to resolve his issues with the two companies. Now he’s getting more legal backing after hiring Elon Musk’s attorney, Alex Spiro, to help bring Gap to justice.