Lil Wayne is serious about leaving the label that he has spent all of his career at, Cash Money Records.

The “Love Me” rapper has been at odds with Cash Money execs including hi mentor Birdman, who Weezy blame for not releasing his new album Tha Carter V and holding him hostage in his contract.

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TMZ was the first to report that Lil Wayne could be heading to court. But now sources connected to the situation are telling Urban Islandz that a legal battle is looming between Weezy and Cash Money.

“There are a lot of things going on in the label that upset Weezy and I can’t go into the specifics but he is serious about leaving,” a source close to the YMCMB rapper told Urban Islandz.

“He has had meetings with his lawyers who are prepared to file court documents if necessary to get Tha Carter V release and to get him (Lil Wayne) out the contract,” the source added.

There are already talks that Jay Z is interested in signing Lil Wayne to Roc Nation. But his Cash Money contract is a major roadblock that they will have to overcome.

Birdman has also expressed that he will be going to court if necessary to keep Lil Wayne at the label.

We are watching this closely as things played out.