Just two weeks after tying the knot with long-time boyfriend Jay-Z, sources claim Beyonce is already planning her retirement from the music industry.
According to the New York Daily News, Beyonce's cousin, Angelica Knowles claims that the current album B is working on will be her last, as she plans to instead work as a talent scout for Jay's new label.
As SOHH previously reported, Jay is said to be embarking on one of the biggest deals in music history, signing an estimated $150 million deal with Live Nation.
As part of the arrangement, Live Nation would finance the start-up of Roc Nation which is expected to include Jay's own label, music publishing, and talent consulting and managing. Live Nation will also contribute an overhead of $5 million a year for five years, with another $25 million available to finance Jay-Z's acquisitions or investments, according to people in the music industry briefed on the agreement.
The landmark deal also includes an upfront payment of $25 million, a general advance of $25 million that includes fees for his current tour, and advance payment of $10 million an album for a minimum of three albums during the deal's 10-year term. A host of additional payments adding up to about $20 million is included in exchange for certain publishing, licensing and other rights.
It is alleged that Beyonce's first protégé for Jay's new label is an R&B artist named Chelsea Thomas.
As of press time, Beyonce's reps could not be reached for comment.
"Janelle Griffith"
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