Apparently, that plan was scrapped.
According to the artist himself, Gucci has signed a $10 million extension with Atlantic Records, his label home for the past eight years. (Gucci initially signed a major label deal in 2009 with Warner Bros., who owns Atlantic Records.)
Without knowing the finer details of the extension, it's likely Gucci's $10 million is an advance, which the ATL native will pay back to the label over the lifetime of the deal through digital record sales, on-demand streaming revenue, touring and merchandising.
Neither Gucci's management nor Atlantic Records immediately responded to requests for comment from DJBooth on the terms of his extension.
As of Wednesday, November 8, Gucci is currently the 112th most popular artist in the world according to Kworb, a site that tracks on-demand streaming across Apple Music, Spotify and YouTube, and digital sales on iTunes.