Nelly Sells 50 Percent of His Music Catalog for $50 Million

A source close to Nelly tells ET that the deal includes some of his most iconic tracks such as 'Ride Wit Me' and 'Dilemma.'

Things have certainly been heating up for Nelly. A source tells ET that the 48-year-old rapper just secured a $50 million deal for 50 percent of his music catalog. 

The rapper has partnered with HarbourView Equity Partners in a deal that includes the purchase of "select recorded assets" from the GRAMMY winner's multi-platinum-selling discography, such as his most iconic tracks, "Ride Wit Me," "Dilemma" featuring Kelly Rowland and the smash hit "Hot in Herre."

The good news doesn't stop there for the rapper. Fans will be happy to learn that the hip-hop superstar and entrepreneur is heading into the studio to record his new album entitled Heartland 2. The album's predecessor, Heartland, was Nelly's first full country-inspired album that produced a triple-platinum single, "Lil Bit," as well as collaborations with Breland, among others. Heartland 2 aims to be the country-inspired edition with all-female collaborations.

Additionally, Nelly recently revealed his latest creative endeavor, MoShine, inspired by his love of hip-hop and country music. The moonshine brand "blends the southern swagger and heartland hustle that unites his two worlds while giving a nod to his hometown of St. Louis, 'MO' where it all comes together."

Meanwhile, after sparking romance rumors last month, it seems the rapper and Ashanti are making another go at their romantic relationship! When the pair was recently spotted spending time together in Las Vegas, a source told ET, "Nelly and Ashanti are back together and both of them are very happy."

Nelly and Ashanti, 42, were seen holding hands as they walked through the T-Mobile Arena in late April during the Gervonta Davis vs. Ryan Garcia fight. In another video posted to social media, the duo was captured performing their hit, "Body on Me," during a pool party.

Another source told ET, "Nelly and Ashanti are really enjoying their time together."

The singers began their relationship in 2003. The pair had an on-again, off-again romance before officially calling it quits in 2013.

In February, ET spoke with Nelly at the GRAMMYs, where he shared that time had healed their past wounds.

"Time does wonders for a lot of different things," he told ET. "And time is one those things that allows you time to reflect on what's what, and you get a chance to see things in a different light and see your faults. So I think we both did that and it's cool that we just friends."

See more on the couple's blossoming second chance ahead.