For the past year, Snoop Dogg has been trying to sue Pabst Brewing Co for stiffing him out of $70 million.
Yesterday, a judge ruled the case could go forward, moving Snoop one step closer to a payday that could shoot him right up the list of richest rappers in the game.
Between 2011-2014 Snoop Dogg was the Brand Ambassador for Blast by Colt 45, a Four Loko-like drink from the Pabst Brewing Company.
His endorsement contract had this clause:
In the event that the Blast by Colt 45 brand or the entire Colt 45 brand family is sold … during the 3-year Term of the Agreement or within two (2) years following the end of the Term, Consultant [i.e. Mr. Broadus] will receive 10% of the net price of such sale.”In 2014, Pabst was transferred to a group of investors for $700 million. Whether Snoop is entitled to his 10 percent ($70 million) will hinge on whether the "entire Colt 45 brand" was "sold" or just financially restructured.
“Pabst is trying to pull a fast one and argue that even though they sold this company for close to $700 million, they didn’t really sell the company," Snoop's attorney Alex Weingarten tells The Hollywood Reporter. "It is preposterous and just like the Judge saw through this nonsense today, we are confident that a jury will agree at our upcoming trial.”If Snoop wins his case, it would catapult his net wealth in the nine figure range, and make him the fourth richest rapper after Diddy, Dre and Jay z.