Jay Z and Lil Wayne

Lil Wayne is still signed to Cash Money Records and Birdman did not sell his contract to Jay Z for $50 million.

A new rumor surfaced online yesterday claiming that Lil Wayne is now signed to Roc Nation after Jay Z purchased his contract from Birdman for $50 million.

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It turns out the news was published by a Satirical website which can only mean one thing, the story is false.

Birdman has made it clear that he will not let Lil Wayne out his Cash Money contract and is willing to go to court to keep him at the label.

In December last year Weezy went on a public rant about having issues with Birdman and other label execs for holding him hostage and not releasing his album Tha Carter V.

“I am a prisoner and so is my creativity Again,I am truly sorry and I don’t blame ya if ya fed up with waiting 4 me & this album. But thk u,” Lil Wayne wrote on Twitter.

But the New Orleans rapper says it is not easy leaving the label because he is locked in a contract.

Last month sources close to the label told Urban Islandz that Jay Z is interested in signing Lil Wayne to Roc Nation, but his current contract with Cash Money is a roadblock.

“Roc Nation execs reached out to Weezy but I don’t know the nature of the deal that they offered him or if he even accept anything,” the source told us.

“Weezy is still in a contract with Cash Money, so Birdman would have to released him from that contract before he can sign to another label,” the source added.