Dame Dash is offering a special incentive to potential buyers of a stake in its Roc-A-Fella Records — but only up to a certain price.
Dame revealed on Instagram on Monday (August 19) that if the auction for his one-third ownership of the brand passes the $10 million mark, he will give the buyer his own Roc-A-Fella chain.
He wrote: “Roc-A-Fella Inc.’s only asset is Reasonable Doubt, which is for sale. Many people have made interesting offers, but please only ask if you are serious. If the price is over 10 million, that person You will receive an original Roc-A-Fella chain.
In the accompanying video, Dash added, “It’s common knowledge that one-third of Roc-A-Fella Inc., which owns Reasonable Doubt, is for sale, and I’ve been getting a lot of calls and offers. I’ve gotten some really healthy ones. I’m grateful for the offer.
“Obviously, if someone is trying to hate the price or trying to devalue it, it’s because they want to buy it. You know, like the right of first refusal,” he added, seemingly referring to his former business partner JAY-Z.
“So if you do want to buy a third of Roc-A-Fella Inc., you’ve got to bring some bread. Anything over $10 million and I’ll sweeten the pot: You’ll get it from my neck of the woods Get an original Roc-A-Fella chain.
Dame Dash’s stake in the company will be auctioned on August 29, with proceeds from the sale used to pay off nearly $1 million in debt owed by film producer Josh Weber after he was sued for copyright infringement and defamation.
Although Roc-A-Fella co-founders JAY-Z and Kareem “Biggs” Burke had previously opposed the public auction, claiming it violated the company’s articles of incorporation, the judge overseeing the legal battle forced Dash to sell his stock.
Hov also stated that ownership of his 1996 album “Reasonable Doubt” will revert to him in 2031, regardless of who purchases the shares.
Dash seemed to deny this, writing on social media: “They can say whatever they want and this thing is still for sale. You are not buying the copyright, you are buying a part of ROC A FELLA INC.
The minimum bid for Dame’s Roc-A-Fella stock cannot be less than $1.2 million to pay off his debt and some other liabilities.
It’s unclear what will happen if the shares fail to sell at the auction, or if Jay and Biggs intend to bid for the remaining one-third of the iconic record label.
