Just a week after announcing the signing of rapper Saviii 3rd to a record deal, Birdman and hip-hop manager Wack 100 have announced the launch of Cash Money West.

According to Wack, who manages The Game, he and Birdman have been in talks for a few months to launch the new division of Cash Money and were recently able to finalize a joint deal to get it off the ground, TMZ reports.

Cash Money West's mission will be a bit different than Cash Money Records, with the new imprint focusing on up-and-coming artists who are trying to break into the mainstream. The new division is also reportedly getting some big support from Universal Music Group—Cash Money's parent company—in the form of a $20 million budget.

Wack 100, who originally pitched the idea of a West Coast expansion of Cash Money Records to Birdman and Slim, says he has also been named vice president of the new operation. Offices and studios for Cash Money West are expected to open soon.

While it hasn't been officially confirmed, it appears Saviii 3rd is Cash Money West's first artist. In an Instagram post of Birdman, Saviii and Wack 100, Birdman wrote "#CMW" in the caption, which appears to stand for Cash Money West.

"Thugginn @saviii3rd @wack100 #CMW #dropping #kingofhiphop @birdman5star," Birdman stated in the caption. Saviii also posted the same photo on his IG page, adding, "Cash Money Business.. stop asking."

The signing of Saviii 3rd comes at a perfect time for Birdman, who recently lost Lil Wayne from Cash Money. The Louisiana rapper was released from the label in June after reaching a settlement with the imprint.

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