The Red Hot Chili Peppers were set to cash in on their music library, but then their old manager stepped in and is causing them a legal hurdle.

According to Variety, the RHCP were set to sell their music catalog to Hipgnosis for $140 MILLION. That is now contested by their former managers in a new complaint.

The band’s ex-managers claim they own a percentage of that catalog. They want to get paid. The Blast reports that the four original members of the band were sued by Q Prime management company, a company that represented the band since the late 1990s.

The complaint says that their deal with the band included a percentage of the money made in “gross earnings.” They want a gross percentage of that $140 million now. The band only recently split with their now-former management company.

The band’s music catalog was largely written by lead singer Anthony Kiedis, bassist Flea, drummer Chad Smith and guitarist John Frusciante. It really is a collaborative effort for them and they have millions of records sold to show for it.

Should the Chili Peppers’ old management get in on this deal? Sound off in the comments!

H Jenkins

Years of experience in writing, journalism, and digging exclusive insider info for Ringside News opened the door for a new opportunity for Jenkins. With a history in finance, he broke into the journalism game by writing on blogs and other freelance websites before branching into sports and entertainment news. Being in tune with pop culture doesn't mean it has to make sense, but he tries. Favorite bands include any group from Seattle who formed between 1991 and 1999. 5 Ozzfests under his belt and 12 Warped Tours, but his last concert was a bluegrass AC/DC cover band that was not 100% terrible.

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