The President of Polo Grounds/RCA Records is speaking on the company's newest signee who made headlines for a $3 million deal.
As previously reported A$AP Rocky made headlines after revealing to Pitchfork that he'd landed a lucrative deal with the record label.
"The situation is almost unrealistic. I mean, five months ago I had about $3,000 in my bank account. Now I'm worth $3 million."
"Nobody's gotten a deal like that since 50 Cent."
Now however the company's President Bryan Leach is explaining the situation and clarifying that he didn't write the Harlem rapper a $3 million check, instead he simply invested the money in his new project.
He tells XXL,
"What he was saying was, when you look at his deal, between the marketing, the promotion, the A&R budget, the advance, the life of the deal--this is what it comes up to. It's no different than an NBA contract if you factor in bonuses. It was definitely a competitive deal, and it was worth every penny, but it wasn't 3 million dollars in his pocket."
While he didn't dish out $3 million to the A$AP crew head, Leach remained mum on the exact number the rapper was paid.
"That's putting out his personal business. It was a competitive deal. I will say that every single label out there was trying to sign the kid, and he took one or two meetings and went with his gut and his heart. It wasn't because of money. It wasn't a big a** bidding war. But it was a competitive deal. It also factors in his A$AP Crew."
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