While there are as many as three major labels battling it out to sign Drake, the Toronto-born MC affiliated to Lil Wayne's Young Money label is close to signing a deal with Universal Motown, a source close to the negotiations confirms.
Sources say three majors are in possibly "one of the biggest bidding wars ever" in hopes of signing Drake, including Universal Motown and Atlantic Records. The presence of Warner Music Group's CEO Lyor Cohen and COO Julie Greenwald at Drake's recent New York show further intensified the speculation that WMG was making a serious play.
"Drake is very talented," rapper Bun B, who collaborated with Drake on his popular mixtape "So Far Gone," told Billboard.com this week. "There's a difference between trying to be an artist and being one. Drake has the confidence to go very far and the chance to make history."