Cassper Nyovest left everyone dumbfounded when he announced his game changing Legacy Deal. Don Billiato revealed that he and Drip Footwear CEO and Founder, Lekau, signed a R100 million deal.
Read more: Cassper To Become SA’s First Hip Hop Billionaire
This amazing achievement raised a lot of eyebrows from social media users who wanted clarity on what exactly does the deal entail. Many questions were raised such as will Cassper be walking away with R100 million at the end of the deal? Another question was can Drip Footwear even afford such a hefty figure, and what exactly is their net worth. Many speculated that it is R3bn however all these questions went unanswered.
— Don Billiato (@casspernyovest) June 9, 2021
Thanks to Podcast and Chill With Mac G, the team got in touch with Lekau who provided clarity on what partnership they got into exactly.
On their latest episode Mac G, Sol Phenduka and The Ghost Lady wanted to get answers on what the deal entails so they contacted Lekau via a cellphone call. First they gave their opinion on what it could mean. Sol said the deal is somewhat a projection because Cassper will be helping Drip push sales so he will be getting his cut from those sales.
Lekau says, “It’s just a product and we signed a contract worth R100 million for the products. If it’s a sneaker or a T-shirt worth R2000 we are going to make ones that are worth 100 Million. Up until that particular term ends. So that is how much it came to 100 million.
“If one Drip is R1000 then we are going to manufacture 100 000 Drips and that makes 100 Million. So the deal itself is worth R100M not to say by the end of term Cassper would have made R100M,” Lekau clarified.
During the press conference, Cassper spoke about how much this deal means to him. Slikour OnLife shared a live stream video of the press conference where the signing of the deal took place.
“I come from an average South African home, and I’ve told my story a lot of times. I don’t normally tell my story but I met Lekau on Twitter. I saw his shoe and then I hit him up and said I liked his shoe. I wanted to buy the shoe and then he came over to the studio. I was still working on my fourth album,” Cassper explains.
“And then he came to the studio with a couple of shoes. Immediately being a businessman, I was like man we should make a shoe. That’s how the relationship started. From there we became actual friends and started talking about business in general.”
On his achievements Cass held nothing back, “I’ve been able to achieve a lot in a short period of time with my team. I feel like we could do much more and feed more people and create more jobs together.”
“We are getting into a partnership with a new brand. It’s something separate but it’s under Drip. It involves products, it involves equity, it involves a lot of things. I’m not buying shares at Drip and he’s not buying shares at my company. We are getting into a very fruitful partnership.”
Social media users were not convinced about the whole figure.
That makes sense but selling it a R100million deal is misleading.
If it’s a goal not even a projection based on current numbers then that’s like you saying you gifting me a Ferrari in the hope that you will be a billionaire some day. That’s not a real gift.
Don’t you think?
— Kgopolo Mphela ☕️ (@PhilMphela) June 8, 2021
Both drip and family tree are not worth 20M to say the least ,this 100M noise is a PR stunt
— Thabangll🛅 (@cpp_iv) June 8, 2021
It’s not 100 million upfront. It’s 100 million in the duration of the deal. I’m guessing this will also depend on Drips revenue during those years the deal is active. Otherwise this is a big win for Cassper Nyovest 🙌🏾
— a tired girl. (@NandiShitiba) June 8, 2021
Im happy for Cassper but where does Drip get 100 million
— Tat’ Ngxabi ❤️ (@AluveManinjwa) June 8, 2021
Cassper Nyovest and Lekau Sehoana of Drip footwear 100 Million deal a scam?
Nota calls both of them out 😳 pic.twitter.com/ay9LTScpfs
— YaseB 🇸🇿 (@ThisIsColbert) June 10, 2021
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