Roughly one year and some change after launching his 300 Entertainment-facilitated imprint, Rich Forever, Rich The Kid is apparently off to a new venture. A short while ago, the Atlanta rapper signed a new deal with Interscope Records, starting a new chapter of his career in the process.

Speaking with the folks at TMZ, Rich—who the celebrity gossip site reports copped a $140,000 Audemars Piguet watch and bracelet along with a pendant made in the image of the logo for his collective Rich Forever 3 for upwards of $100,000—explained why, exactly, he chose to sign with Interscope. Apparently, it was all a matter of their shared outlook for his career.

"Interscope really, know what I'm saying, [they] feel my vision. For me, and everybody. They talked nice," Rich said after confirming sexual assault allegations toward L.A. Reid weren't the reason he turned down a deal with Epic.

Rich, whose new compilation project Rich Forever 3, dropped last Friday (June 16), spoke with us a short time after signing his deal with Interscope and offered up a few details about why he decided to team with the label.

“I was talking to different labels, Columbia, RCA , Epic,” Rich told XXL. “I decided not to sign with Epic even after L.A. Reid offered me a crazy deal. [Senior Vice President of A&R at Interscope] Manny Smith & Interscope CEO John Janick understand me and my vision for myself and also my label. Interscope gave me the opportunity to take over the game completely and that’s what I’m going to do.”

Check out what Rich told TMZ in the video below. The site claims his new Interscope deal is worth $2.5 million.

See Fans' Predictions for the Hip-Hop Songs That Will Rule Summer 2017

More From XXL