St. Louis-bred recording artist, Nelly has reportedly agreed to sell portions of his extensive music catalog.
According to Variety, Cornell Iral Haynes Jr. who uses the stage name Nelly when he is performing has partnered with HarbourView Equity Partners as they purchased some of the music he has recorded over the years.
In a written statement, Nelly said, “As artists, we put our heart and soul into each track and there comes a time when you consider preservation of that artistry. 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.”
TMZ has reported that the deal is worth $50 million deal as the artist has given up 50% of ownership over his whole catalog.
HarbourView Equity Partners is an asset management company that was founded and is being run by Sherrese Clarke Soares.
Soares said, “This catalog has made an incredible impact on generations of fans. 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.”
Nelly has created many chart-topping hits over the years and has won three Grammy Awards and three American Music Awards. He is still performing and has recently released his eighth album, “Heartland.” This album, unlike his previous ones, is labeled as a country-inspired album.
The business world has been extremely kind to Nelly but he’s also winning in the romance department as of late. 10 years after breaking up with fellow recording artist, Ashanti, who he had a serious romance with between 2003 and 2013, the two have reportedly gotten back together to give love another chance.