Lil Pump Signs New $8 Million Deal with Warner Bros. Records

Lil Pump has more racks for new chains. The 17-year-old Miami rapper has re-signed with Warner Bros. Records on a binding 7-year $8 million deal, according to TMZ.

After their previous contract was nullified due to the fact that Pump was a minor, the new deal guarantees the “Gucci Gang” star an $8 million advance. He will reportedly receive $9,000 for year one, $12,000 for year two, and $15,000 for years three through seven. Additionally, he is set to receive 14 percent of royalties in the U.S. and up to 66 percent with different provisions.

Following his reported contract nullification, Pump appeared to become the subject of a bidding war. DJ Khaled reportedly wanted to sign him to his We the Best Music Group. The “Gucci Gang” rhymer even hinted that he had signed with Gucci Mane’s 1017 Eskimo Records imprint.

Last month, Pump was arrested for firing a gun inside of his home. But legal problems haven’t stopped him from making music and he recently previewed his “ESSKEETIT” single.