Justin Bieber is no longer in debt to Scooter Braun!
The pop star finally settled things with his former manager, according to TMZ intel on Thursday. Sources with knowledge of the financial dispute told the outlet that the duo worked out a settlement in which the Holy artist agreed to pay Scooter back $26 million, which he owed after canceling his Justice tour.
As we covered, when he pulled out on the tour, AEG demanded he repay them the $26 million advancement he was given. Scooter’s company, HYBE (which he recently stepped down from), agreed to fork over the cash to AEG under the agreement that the Canadian would repay them over 10 years. But after making one payment, the 31-year-old stopped repaying the debt. But now he’s finally made good on that promise!
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That’s not all, either…
The settlement also included the payoff of another debt — but in this case, Justin actually scored a win! Scooter had also been claiming Justin owed him $11 million for unpaid commissions over the years. In this new agreement, the Grammy winner will only need to pay his ex-manager HALF of that debt.
Sure, it’s still a lotta money, but it’s certainly a victory for the musician. Scooter is leaving a lot of bills on the table by agreeing to that! Especially considering this isn’t the only time he’s let the father of one off the hook.
In TMZ Investigates: What Happened to Justin Bieber, the outlet claimed sources close to Bieber said he wasn’t paying up because he believed the music manager had ripped him off by taking more money than he was owed. But after reviewing an independent audit conducted by PricewaterhouseCoopers (PwC), it showed that — reportedly in addition to the $26 million and $11 million debts — Justin owed Scooter $8.6 million in unpaid commissions — but Scooter reportedly waived the fee! Hmm.
Also, the Baby crooner was only willing to finally cough up all this cash after his wife Hailey became a billionaire after selling her makeup company. So really, she should be getting the credit for settling this dispute! Sounds like it came from her wallet!
Thoughts? Let us know (below)!
[Image via MEGA/WENN & The Diary of a CEO/YouTube]
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