J. Cole’s longtime manager, Ibrahim “Ib” Hamad, has stepped forward to address rumors that Dreamville was sold to UMG.

Ibrahim shared the statement on Twitter/X on Friday (August 8) after Dreamville artists JID and Bas publicly praised J. Cole for sharing the proceeds of a deal the label made with UMG with the artists. The comment sparked speculations online, with some fans thinking that J. Cole and Hamad sold the label to UMG.

The Dreamville co-founder has now clarified what happened behind the scenes. He stated that it was nothing more than a roll of the dice and a sharing of the blessing with its artists.

“For those that misunderstood, we did not sell Dreamville lol,” IB explains. “Never will, never would. We ended our Dreamville partnership with umg and some blessings came with that and When blessings come your way it’s only right to share those blessings with the family. Just some clarity.”

Ibrahim also noted that Ari Lennox, who shared that she parted ways with Dreamville earlier this year, also received a cut of the proceeds from the new deal. Lennox had called out Dreamville months prior to announcing her departure.

In his response to a fan’s comment saying, “I hope Ari got a cut lol,” Ibrahim stated, “Why wouldn’t she? She help built this.”

JID sat down for a new interview on The Joe Budden Podcast on Friday, where he dished on his new album and shared comments about Dreamville’s new deal. That sparked the broader conversation. If you weren’t aware of what he said, it’s pretty clear he didn’t say that Cole sold the label. He was, in fact, praising J. Cole for looking out for the artists rather than just himself.

“Cole looked out for everybody that was a part of Dreamville,” JID told Budden. “That’s one of the most beautiful things in hip-hop right there. That never f***ing happens. And it happens to where if n****s on Dreamville that was a part of it don’t want to do music and they just want to move on with their life, they would be good. Be straight.”

JID also spoke about the criticism that J. Cole received after apologizing to Kendrick Lamar for dissing the Compton rapper, leading to the Kendrick and Drake beef.

“If we want to talk about an apology, apologize 30 more times,” he continues. “That is the greatest ni*** on f***ing Earth. In this predatory industry. Ni*** was blessed in the most unimaginable, selfless [way].”

JID calls the move the greatest thing he has ever witnessed in the music industry.