R Kelly is attempting to sell the publishing rights to his back catalogue; however, he simply can’t find a buyer.
Reportedly, the singer is currently trying to sell the complete publishing rights to his back catalogue to raise desperate funds. Yet, Kelly is at a loss as he trawls to discover a buyer, even though the songs earning an estimated $1.7million per year in the US alone, and for obvious reasons, nobody wants to go near his songs.
In 2019, it came out that he only had $625 to his name due to the ongoing legal battles which had emptied his bank account, and selling his back catalogue is how Kelly has tried to navigate his way out of the messy situation he finds himself in.
“It has been offered to me a number of times by his team, and of course, I’ve said no for the obvious reasons,” Merck Mercuriadis, founder of the Hipgnosis Songs Fund, recently commented. “There are incredible songs in that catalogue, but why would you take that kind of risk?
Meanwhile, another anonymous asset buyer, who passed on Kelly’s catalogue in 2019, has said: “We wouldn’t go near it with a 10-foot pole.”
The artist, who has spent the last two years in jail, is currently in court. Six women are accusing Kelly, and three of them were allegedly underage when the claimed incidents took place. All of the women allege physical, sexual and psychological abuse against the rapper.
The 54-year-old has pled not guilty to all of the nine charges in this case and claims no wrongdoing. He faces one charge of racketeering and eight violations of the Mann Act, which criminalises the transportation of any woman or girl across state lines for immoral purposes, including illegal sexual activity.