Skales To Pay N5Billion To Terminate Contract With Label

The plot thickens with the legal issue between Skales and Base line records. The singer and his manager were arrested the day before yesterday over allegations of fraud.

More details of Skales contract with the record label is also beginning to unfold. Apparently not only did Skales sign to a 70-30 sharing formula (With him receiving 30), he also signed to a to a huge buy out clause.

The artiste may terminate this agreement prior to the expiration of the contract period by paying the company the sum of Ten million pounds sterling.

With the present rise in the exchange rate, that amounts to N5Billion.

Skales signed with Baseline in 2014 not long after he left Banky W’s Empire Mates Music. The record label is partly owned by show promoter Howie T who claimed then that the deal Skales signed was one of the biggest in Nigeria.

It was said to have come wit a new house, a car and a total lifestyle package. Sources also confirmed that it was worth N200million.

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Written by Unknown on Sunday 5 June 2016