Jay-Z wants to reclaim the body of work that started it all.
TMZ reports Jay-Z’s legal team has sounded the alarm that in 2031 the rapper-turned-billionaire will obtain full rights to “Reasonable Doubt,” his debut album released in 1996. Per the outlet, these rights would have reverted back to Jay-Z 35 years after the release as part of the business deal either way.
This announcement follows the news of an impending sale of Damon Dash’s 33% share in Roc-A-Fella Records, which is set to hit the auction block sometime on Aug. 29, 2024. Its listing at auction was set in motion earlier this year to cover the more than $800,000 judgement amount Dame Dash owed in a past copyright infringement and defamation of character lawsuit related to the making of the movie “Dear Frank.”
As AFROTECH™ previously mentioned, Josh Webber, director of “Dear Frank” filed the lawsuit in 2019, claiming Dame Dash was trying to make the movie on his own after being fired as director himself. More recently, Webber filed an additional lawsuit on April 25 with further defamation claims asking for $4 million, HipHopDX notes.
This has led to a spark in interest among various parties who are looking to secure Dame Dash’s shares in Roc-A-Fella Records as it maintains the copyright to “Reasonable Doubt” and Jay-Z’s songs, XXL mentions.
“Based on feedback I have received from interested parties (and I can’t mention names), this auction will likely bring out many household names in the sports and entertainment industries as well as those interested in a piece of a historically significant company, which holds an interest in a timeless debut album,” Dame Dash’s attorney Natraj Bhushan explained, according to Billboard.
Dame Dash’s share is reportedly valued at $1.2 million. Once purchased the new buyer will have six years to reap the benefits of their ownership until it lands back into the hands of Jay-Z.
“Whomever buys Dame’s stake in Roc-A-Fella will be a minority owner without authority over any decision-making,” a source explained to Billboard. “They won’t have the ability to sell the copyright or borrow against the master as all decisions require majority vote.”
Jay-Z’s team has previously doubled down on preventing the sale of “Reasonable Doubt.” Back in 2021, Dash announced he was looking to auction off stake in the album in the form of a non-fungible token (NFT). However, the move did not land well for attorneys representing Jay-Z because they stated Roc-A-Fella Records was in possession of the records not Dash individually.
The matter was later settled in summer 2022 with it being determined Dash was not able to “dispose of any property interest in ‘Reasonable Doubt'” but could sell his stake in the label.
“The bottom line is simple: Dash can’t sell what he doesn’t own,” Roc-A-Fella said, per another Billboard report at the time.
