Justin Bieber really is using Hailey‘s sale money to pay off his debt.
As Perezcious readers know, the pop star finally reached a settlement with his former manager Scooter Braun. After JB canceled his Justice tour, the Holy artist needed to pay AEG back his $26 million advance, and Scooter’s company Hybe covered it for him. He also reportedly owed Scooter $11 million in commissions (and another $8 million that Scooter waived), per TMZ. That’s a lotta money! Just last week, it was reported Justin agreed to pay Scooter back around $31.5 million — that’s the full $26 million and half of the $11 million.
Related: Scooter Braun Praises Justin Bieber In Review Of New Album
We’ve heard lots of rumblings that the Canadian has been planning to use Hailey’s Rhode sale money to fix his problems, and it seems to be true. TMZ sources told the outlet on Thursday that Justin will pay the debt only when he’s got his Rhode money!
Insiders said that the Grammy winner doesn’t have the cash to repay Scooter until the Rhode payment hits his bank account, so it was agreed that he would not need to fork over the money until the business deal is closed and fully funded. Wow! The beauty brand sold for around $1 billion — but Hailey won’t get all that cash. She’ll get a big chunk, but there were several investors, including Justin. He’s set to make about $50 million — enough to cover the settlement. So, that’s good. At least it’s not coming from the model’s cut! Even if she did a lot of the hard work…
BTW, this comes after Justin already sold his music catalogue for $200 million, but sources say that wasn’t even enough to pay the debt after taxes, managers, accountants, lawyers, and other spending. Damn. Not enough after $200 million?? Jeez! Maybe he will need to dip into Hailey’s cut then…
And what was the Baby crooner going to do if Hailey didn’t sell her company?! It sounds like that’s the only thing saving him right now! We hope she wasn’t pressured to sell!
There’s also some more good news for the singer. The settlement gives the new dad ownership of his masters, and Scooter doesn’t actually get this money — it goes to Hybe, and he just left the company. The 31-year-old should have the Rhode payment “probably in a month or two,” according to an insider, so this should all be wrapped up soon.
Thoughts??
[Image via Justin Bieber/Hailey Bieber/Instagram & MEGA/WENN]
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