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Gucci Mane is making some changes … his 1017 Records financial situation is down bad so much, that he feels it’s best to drop all his artists and start anew … except for his proven talent Pooh Shiesty and Foogiano!!!
On Friday, Gucci addressed his fans and admitted he didn’t get around to making a fuss about the label’s holiday — October 17 — because the company’s profit and loss statements weren’t adding up in his favor.
Gucci revealed he told all the other artists and their legal teams ahead of his announcement … but cut the contracts so they could spread their wings and fly elsewhere.
Despite Pooh and Foogiano’s success, Gucci’s camp has had a rough go at life since rebranding as “The New 1017” back in 2020.
We broke the stories … Gucci’s artists Enchanting and Big Scarr both died from drug overdoses in December 2022 and June 2024, respectively, leaving the label hanging on a thread.
Texas rapper HotBoy Wes was sentenced to 15 years in prison back in January — exactly a year after 1017 rookie Mac Critter got arrested on first-degree murder charges.
Gucci says he’s still looking to fill roster slots and the runway will be wide open for them.
Pooh and Foo are both currently serving 5-year prison sentences.