Jay-Z Offers $40 Million To Purchase Prince’s Unreleased Music

When he died earlier this year, pop legend Prince reportedly left behind an astounding collection of unreleased music in the archives at his Paisley Park estate. And according to TMZ, various streaming services are competing to acquire the rights to stream it exclusively.

One of music streaming’s big names, TIDAL, seems to be already on the move. TIDAL founder and rap titan Jay Z allegedly flew out Prince’s sister, Tyka Nelson and her husband Maurice Phillips, out to New York City to bid $40 million for the Prince’s legacy.

So if the hefty offer receives all the necessary sign-offs, Jay Z could become the owner of Prince’s collection of unreleased music. But the process isn’t as simple as getting Nelson’s permission. Although it is true that she is Prince’s only full sibling, the late singer’s half-siblings would also be required to sign-off on the multi million dollar offer. In addition, TMZ says that “there are some major players in the game,” so there’s a chance Jay’s offer may not be enough.

However, it seems like TIDAL has somewhat of an upper hand by having received Prince’s endorsement before the star’s passing away. Months before his death, Prince expressed his confidence in TIDAL and Jay Z during an interview with Ebony.

“TIDAL is a new company, it’s brand new,” Prince said. “They’re just getting their footing, and I think when there’s a company like that, or the OWN network — situations where we finally get into a position to run things — we all should help. It’s been a lot of fun.”

However, there are a couple questions to TMZ’s claim. Apparently, L. Londell McMillan, an advisor to the estate, told Billboard that he has “no knowledge of any discussions in that report,” and emphasized “there is no sale [of Prince’s music assets], and those responsible for the assets are not in discussions with anyone regarding a sale.” However, McMillan did confirm that the estate is considering offers, including bids from all three major labels, to license — not purchase — Prince’s catalog and unreleased material.