Lil Wayne has filed a lawsuit against Cash Money and its CEO Birdman, accusing of withholding millions of dollars in advances for his long-delayed "Tha Carter V" album.

"Cash Money has not provided Carter with any contractual or statutory basis for failing to pay the balance of the advance of 'Tha Carter V' and has given no assurances that it willnot similarly refuse to pay Carter ... advances due to him for two other albums he's contracted to record," the Manhattan federal court lawsuit states according to Page Six.

As a result, the New Orleans emcee is now suing for $51 million and asking a judge to end his contract with Baby's label, according to TMZ. He is also seeking a court order declaring himself the joint copyright holder of all recordings from Young Money artists, including Drake, Nicki Minaj and several others.

Sources close to Lil Tunechi told the publication that his highly anticipated record will be released, only if he gets paid.

The "Grindin'" rapper claims that he was promised an $8 million advance when he began recording back in December 2013, and another $2 million after the album was completed a year later. Lil Tunechi reportedly says he will just walk out if Cash Money refuses to pay him. Not only that, he plans to take all his Young Money protégées with him when he parts ways with the label.

MediaTakeOut.com recently reported that Weezy and fellow rapper T.I. "have tentatively signed an agreement" to form a "super record label" of their own. Two independent sources close to the rapper duo said they have been holding "secret negotiation" and considering naming the label neither Young Money nor Grand hustle. The new company is also expected to represent several chart-topping hip-hop stars, including Drake, Nicki Minaj and Iggy Azalea.

"Wayne has the rights to Drake and Nicki Minaj, and T.I. has the rights to Iggy Azalea," the source said.

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