(Cover) - EN Showbiz - Cash Money records co-founder Birdman says that Lil Wayne was signed to "the biggest deal ever in urban music".

The 29-year-old American rapper reportedly signed a contract extension to release four more albums with Cash Money for $150 million. Lil Wayne has been signed to the label since he was 11-years-old.

Birdman declined to specify the amount he spent to retain Lil Wayne, but the record executive believes the rapper is well worth the fortune.

"YMCMB start and stop with Wayne; it ain't no YMCMB without Wayne," Birdman told MTV News. "The type of situation we did never been done in urban music; it's probably the biggest deal ever in urban music. I'm blessed to even do that whatever my son want, he can get. It's all his anyway, so it don't really matter to me."

Birdman is hoping to expand Cash Money into a billion dollar business.

"That's one of our goals, and the move we just made was a big move to that, to make sure the pioneer of it, which is Wayne," he shared.

Lil Wayne's next album entitled I Am Not a Human Being II is set for release later on this year. (C) Cover Media