Throughout his 20+ years in the music game, No Limit mogul, Master P., has touched damn near every other industry as well. From books, to travel agencies, to a Foot Locker ownership, to a new co-ed basketball league with Tiny (of Xscape), and much more, P. has attempted to become a jack of all trades. Well, it turns out, he was looking forward to having success in another industry- the legal weed business, but that one didn’t quite go the way the brotha expected. In a nutshell, P. is about to make an equity firm say “unnnngh” if they don’t pay him his money ASAP.
It’s now been reported that Master P. invested millions to create his new weed brand, Master P.’s Trees. The deal was a 50/50 partnership with equity firm, Privateer Holdings. In a new lawsuit that P. has just filed, he claims Privateer flat out lied to him and apparently just wanted to use him to tap into the urban market.
TMZ reports that P.’s lawsuit states Privateer wanted to get “an inside look into the urban and hip-hop demographic of cannabis users.” That could be so they can cut P. out and instead sell directly to the urban crowd for 100% of the profit, instead of the 50% they were gonna get with P. See the rest of the details below…
Via TMZ: [Master P.] joined the legal cannabis industry in November 2016 with the launch of his brand, Master P’s Trees … and claims he struck a deal with Privateer Holdings in March 2017 to produce and distribute his products in Cali. According to the docs … the deal was for 1 year, and Master P would promote the brand and cover half the production costs. …The official product launch was set for a July music fest where P was performing. … According to the suit — Privateer reneged on the deal in late July and left Master P holding the bag. The rapper’s suing for breach of contract and fraud … He wants at least $25 mil in lost profits and damages. We reached out to Privateer Holdings … no word back so far.
Twenty-five mill’ is a lot of bread. If Master P. gets what he’s asking in this lawsuit, he might as well take that money and go strike up his weed brand, using the same business savvy he used when he started No Limit Records. Just pay weed experts for services rendered and keep 100% of the profits- that way there’s no partners, no headaches, no limits.
