Justin Bieber and Scooter Braun have finally settled their massive financial dispute … TMZ has learned.
Sources with direct knowledge tell us Justin and Scooter hammered out a settlement on a ton of money Justin owed Scooter.
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We’re told the terms call for Justin to cough up the $26 million he owed as part of an advance he got from AEG for the “Justice” tour.
TMZ.com
As we’ve told you … Justin got a $40 million advance from AEG for his “Justice” tour, but when Justin pulled the plug on the tour early on, AEG demanded he repay them $26 million of the advance. Scooter’s company, Hybe, agreed to pay AEG the amount owed, and Justin agreed to repay Hybe over 10 years. Justin made one payment, and then stopped.
Now, he’s made good on that debt … plus another one.
Our sources say the settlement terms also call for Scooter to get back half of the $11 million that he said Justin owed in various unpaid commissions that had piled up over the years.
Scooter settling for pennies on the dollar here, frankly, is a win for Justin.
TMZ broke the story … settlement talks picked up last month and they were triggered by our recent TMZ documentary on Justin.
As we told you in “TMZ Investigates: What Happened to Justin Bieber,” Justin and Scooter’s relationship disintegrated after Justin claimed Scooter screwed him out of millions, but our investigation showed the opposite.
In addition to the $26 million and $11 million debts, we saw an independent audit conducted by PricewaterhouseCoopers (PwC), which showed Justin actually owed Scooter $8.6 million in unpaid commissions. As we reported in the documentary, Scooter waived payment of the entire amount.
