Did Justin Bieber and Scooter Braun finally settle their $30M financial dispute?

The long-running financial dispute between Justin Bieber and Scooter Braun has reportedly been brought to an end today, with Bieber agreeing to pay his former manager a sum to the tune of $26 million. The quoted figure stems from the advance that Braun helped Bieber secure, and there's also $5.5 million that the latter has agreed to pay for unpaid commissions.

The figures involved in the deal take the total settlement amount to a hefty $31.5 million, as per the reports confirmed by PEOPLE.

The dispute originated from a $40 million tour advance that Bieber received from concert promotion giant AEG for his “Justice” tour. The tour was subsequently canceled, which led to the entertainment company demanding its money back. Scooter Braun helped Bieber come to an agreement with his company HYBE, which agreed to take the financial burden of paying AEG at the time.

As part of the financial agreement, Justin Bieber was supposed to repay the amount over the course of the next 10 years, a condition that the singer was more than happy to oblige. While HYBE had reportedly received the first payment, the subsequent payments never arrived, which led them to take legal action against Bieber.

There was the added issue of unpaid commissions (amounting to $11 million) that Scooter Braun claimed he was entitled to, and these factors led to the souring of the relationship between the talent manager and his client. Braun, who has since retired from his role as a music manager, has reportedly agreed to forego half of the unpaid commissions in order to facilitate the financial transaction.

What's next for Justin Bieber?

Justin Bieber has kept his fans on their toes over the past few months, but he seems to be focusing on his music following the settlement. He has released his new album "Swag" on all streaming platforms today, and the album has already been making waves on social media.

Fans have also debated Justin Bieber's personal life, but lately, Justin has been more open about his personal life, having shared several Instagram photos of himself and Hailey enjoying moments of domestic bliss. He has also taken a shot at the divorce rumors in his latest album and has reaffirmed his commitment to his relationship with Hailey Bieber.

Scooter Braun, who played an instrumental role in Justin's meteoric rise, commented on his relationship with the singer in the The Diary of a CEO podcast that was released last month. In the interview, he was quoted as saying:

Trending

"[It's] not the same that it was. I think these things go in ebbs and flows. There comes a point where I understand he probably wants to go on and show that he can do it. We worked together for so long, and we had such extreme success, and I think you get to a point as a man where you want to show the world you can do it on your own"

While the relationship between Justin Bieber and Scooter Braun worsened gradually over the past two years, the settlement brings an end to their long association. With the financial dispute finally settled, Braun will continue to serve in his role as a consultant for HYBE America.

×

Was this article helpful?

Thank You for feedback