Soulja Boy took to social media a few weeks ago to trumpet an alleged $400 million promotional deal that turned heads everywhere. Hip Hop fans were wondering what company would invest $400 million in Soulja Boy–a rapper who broke the charts a decade ago, but hasn’t released any memorable Fiyah in quite a few pecan seasons?
That’s not hating, it just is what it is. Soulja is not the household name he used to be. We do, however, have to give props to Soulja for his contribution to the rap game’s evolution.
With that said, more details have emerged on that $400 million deal and not surprisingly, Soulja left a few details out–and the company in which he partnered with was glad to point it all out.
World Poker Fund is the company behind the nearly half billion dollar deal, and a spokesman had a lot to say about Soulja Boy’s tweets, and his potential cash haul. Here’s part of his statement:
“He (Soulja Boy) really kind of jumped the gun. The deal is capped at $400 million, and it’s based on a forward-thinking valuation of the company. He’s young, he’s 25 years old. He got really excited, and he tweeted something he probably shouldn’t have tweeted. He was getting a lot of pressure from within the entertainment community, so he wanted to put a statement out. Obviously, the company’s market cap is at $51.8 million. There’s no way they could cut a $400 million deal. Endorsement deals are calculated on a lot of different factors. This is not a full cash transaction,” says World Poker Fund spokesperson Matthew Bird.
Props to Soulja for finding inventive ways and new partners to get to the money. However, next time, let’s get some accuracy in the details, Soulja, ’cause this is as close to getting put on blast as it gets.