Looks like Universal was the victor in the bidding war for Drake afterall.

While sources close to the deal predicted Universal Motown was the closest to snagging him, the Toronto-born rapper officially signed to Young Money with distribution through another Universal label -- Universal Republic -- yesterday (June 29). His debut album, "Thank Me Later," with reported collaborations with Kanye West, Lil Wayne and Jay-Z, is slated for a late 2009 release.

"Just know that whatever label we sign to it'll be because they'll add to what we've created on our own," Drake, told Billboard.com last month. "I am very happy in my situation now, which is signed to Cortez [Bryant] and Gee Roberson at Young Money and management through 'Hip Hop Since 1978.' The most important thing for me is being around my team - they are stronger than any label."

This summer, look for Drake on tour with Lil Wayne, Young Jeezy and Soulja Boy Tell'em as part of the "Young Money Presents: Americas Most Wanted Music Festival" trek.