Nelly Gets $50 Million for 50 Percent Share of Music Catalog

HarbourView Equity Partners, the asset-management company founded by Sherrese Clarke Soares, announced today it has agreed to partner with and purchase “select” recorded-music assets of Nelly.

via: Rolling Stone

A rep for the rapper who confirmed the news to Rolling Stone said that it includes hits like “Hot in Herre,” “Dilemma,” and “Ride Wit Me.” The deal covers the rapper’s eight albums, including his 2000 debut, Country Grammar, which has been certified diamond and 2002’s Nellyville, which has been certified seven times platinum.

The purchaser is HarbourView Equity Partners, a self-described “global investment firm focused on niche markets and esoteric investment opportunities.” Inc. magazine recently recognized the Newark, New Jersey–based firm’s founder and CEO, Sherrese Clark Soares in its “Female Founders 200” for her role in acquiring music by Nicki Minaj, Justin Bieber, and Florida Georgia Line.

“As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry,” Nelly said in a statement. “My music is my legacy which I want to last beyond me, continuing to make my existing fans happy while reaching new generations and new audiences. I am excited to partner with HarbourView to create opportunities for discovery of my music decades from now.”

“This catalog has made an incredible impact on generations of fans,” Soares said. “Works such as, ‘Hot in Herre’ and ‘Shake Ya Tailfeather’ defined an era of music of a unique blend of hip-hop, R&B, and country music that is undeniable. We are thrilled to add these influential pieces to our repertoire and work with the team to continue supporting the artistry within our ecosystem.”

Beyond the deal, Entertainment Tonight recently reported that Nelly is working on a follow-up album to 2021’s country-leaning Heartland album, titled Heartland 2. The album will continue the country direction of the predecessor and will feature only female collaborators.

The original Heartland’s “Lil Bit,” which featured Florida Georgia Line, made it up to Number 23 on the Hot 100 and has since been certified triple platinum. The album also featured collaborations with Darius Rucker, Jimmie Allen, Kane Brown, Breland, and Blanco Brown. To capitalize on his country success, Nelly has also entered into the moonshine business selling his own MoShine, which he claims “blends the southern swagger and heartland hustle that unites his two worlds,” according to ET.

Earlier this year, Nelly was revealed as the owner of a new horse-racing league, the National Thoroughbred League; Rick Ross is another owner. The league has said that it would be “akin to Formula I” racing and would feature both male and female jockeys. Teams will be headquartered in New York, Los Angeles, New Jersey, Seattle, Nashville, and Philadelphia.

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