Banky W seeks Wizkid’s mum’s intervention •50/25/25 formula, genesis of crisis
In the efforts to win Wizkid over following their reported management crisis, Banky W has run to Wizkid’s mum for support.
A source in EME told R on Thursday that the US returnee went to the woman seeking her intervention in the crisis as it was becoming clearer that the two might eventually part ways.
He was said to have appealed to the woman’s sentiment by reminding her of how he helped propel Wizzy’s career to greatness.
“You know women, she felt compassion for Banky and promised to talk to her son,” the source told R.
Immediately words got to Wizkid that Banky had spoken with his mother, Wizkid tweeted: “Don’t take loyalty for stupidity... Don’t!”
Wizkid had previously tweeted: “Moving on to start all over again!…F--k it!..”
Banky has continued to shut down reports of Wizkid’s likely exit as he described as ‘nothing but rumours’ the reports that all is not well between the two.
He maintained that “Wizkid remains a member of the EME family.
Banky told R that “there is no problem that can’t be solved” in Lagos during the world press conference organised by COSON at the Protea Hotel, GRA, Ikeja, in response to question on what was wrong between him and Wizkid.
The social media had been abuzz with stories that both had parted ways over management issues.
R learnt that Wizzy had always had the short end of the carrot for all the years he has been with Banky and was tired living on “peanuts” as he tweeted days ago.
Friction came in the once-smooth relationship between the duo when Banky was said to have found out that Wizkid had signed a management deal with a UK-based artiste rather that with Banky’s EME outfit.
Banky expected Wizkid to sign another contract with him which he hasn’t.
Wizkid was said to have been opened to a new deal that should see his purse grow fatter, but Banky refused to take the new proposition and went to the musician’s mom to plead his case.
It was gathered that the initial agreement Wizzy had with Banky was lop-sided that the label allegedly takes 50 percent of whatever acrued to the kid, while Osagie, Wizkid former manager that was recently sacked by the “Holler At Your Boy” crooner, collected 25 percent, leaving Wizkid with the remaining.
For years, the young act endured in silence until his successful UK tour.
“When he got back from UK, he changed allegiance”, source told R.
He said Wizkid had expected an increase in his cut as is the practice of most labels once their acts record massive successes.
“He was hoping they would treat him the way Choccity treated MI by not only increasing his percentage, but also making him a board member of EME. None of this happened.So, the guy decided to move on’, he added.