Nelly is a lot richer than he was last week thanks to a new multimillion-dollar deal.
According to a report TMZ published on Wednesday, July 5, the "Country Grammar" rapper sold half of the rights to his extensive catalog for $50 million. Nelly sold 50 percent of the rights to a company called HarbourView Equity Partners. The Grammy award-winning artist's catalog includes eight studio albums and several No. 1 records that are still loved by fans everywhere. At the moment, there's no confirmation on which songs and albums are now owned by HarbourView but it wouldn't be a surprise if the deal includes his biggest hits.
In addition to selling off half the rights to his catalog, Nelly is also working on adding to his massive collection of music. TMZ also reports that the St. Louis native is also in the studio cooking up new music. He's currently working on a new country album that will serve as the follow-up to his 2021 project Heartland. His most recent body of work contains eight songs featuring contributions from country artists like Florida Georgia Line, Darius Rucker, Kane Brown, Breland and more.
"The idea of the project has been ever since 'Over and Over' — so since 2004, 2005, after seeing that success," Nelly told Billboard about the first album. "But the only reason I even thought that I could have success with 'Over and Over' was because, even when we dropped Country Grammar, we were getting so much love from this community. We were getting booked at fairs, at rodeos, and functions within the country world. When you’re just getting on, you don’t give a damn who’s out in the audience — you’re just happy that somebody is listening to you!"
As of this report, there's no confirmed release date for Nelly's upcoming project.