Shyne Reportedly Signs Seven-Figure Deal With Def Jam

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UPDATE: L.A. Reid flies to Belize to finalize deal resurrecting Shyne's Gangland label via Def Jam.

According to HOT97 radio personality Miss Info's webpage, multiple sources have confirmed that until-recently incarcerated rapper Shyne has signed a seven-figure deal with Def Jam.

After being deported to his homeland of Belize in October, a bidding war began for the rapper's services. Reportedly, Shyne turned down an offer from Jimmy Iovine and Dr. Dre at Interscope, in addition to others, in favor of teaming back up with L.A. Reid at Def Jam.

Miss Info also reported that Shyne has reportedly been working with Kyambo "HipHop" Joshua, who with Gee Roberson, also manages Lil Wayne, Drake, Young Jeezy, and other artists.

Island Def Jam Chairman Antonio "L.A." Reid flew into Belize's Phillip Goldson International Airport at 4:20 p.m. February 23 to personally sign Shyne to a multi-million dollar contract. The deal, reported to be worth upwards of $5 million, will bring the former Bad Boy emcee and his Gangland Records imprint back to Def Jam.

A previous deal with Shyne and Def Jam was stalled in 2004 due to complications with Shyne's legal documentation and a twisted interpretation of the federal "Son of Sam Law" which was originally created to keep felons from profiting from their crimes.

"I am here because great people are worthy of travelling many many miles for it and I come here to say that your country is great..." Reid told Keith Swift of News 7 Belize. "I hope you guys know that this is a great man from your country who deserves this kind of respect and who deserves this kind of support."

After being deported earlier this year, Shyne appears to have cleared all legal hurdles preventing him from recording again.

"It is an honour and a pleasure, not just for me but for Belize," the rapper noted. "Chairman Reid is on the level of Berry Gordy, Clive Davis, the biggest music men in the history of music, and so to have a partnership with Gangland Records and Island/Def Jam is incredible for me."