Popular hip-hop podcaster DJ Akademiks has broken down The Weeknd's partnership deal amid rumors of him selling his catalogue for $1 billion.In an X post on December 17, DJ Akademiks shared a screenshot from a Billboard article, attempting to explain The Weeknd's deal regarding his catalogue. He wrote:"The Weeknd did not sell his catalog for $1B. His catalog was valued at $1B. And he took out a loan against his album for $250 million and leased it to an investment firms which took a 25% equity stake in his masters & publishing. The Weeknd and Cash XO keep 75% ownership & control, per Billboard."According to Billboard, The Weeknd, aka Abel Tesfaye, has not sold his catalogue for $1 billion. Instead, the singer has signed a partnership with Lyric Capital Group, who have invested in his catalogue valued at $1 billion. However, Tesfaye's team still holds complete creative control over his catalogue.The partnership covers his catalogue from its beginning until 2025, which means it won't be valid next year and will not include future releases. The massive deal will still let Weeknd and his team retain complete decision-making power. His existing master's rights and publishing relations will also remain in place. The Weeknd's catalogue deal with Lyric Capital Group explainedMichael Rubin, Meek Mill, Jay-Z, and more Host REFORM Alliance Casino Night Event - Source: GettyIn an official statement to Variety, a representative from the Lyric Capital Group, confirmed that The Weeknd was never open to selling his catalogue to them in the traditional sense. The statement further explained the unique partnership, and said:"From the beginning of the meeting, it was clear to all at Lyric that Abel would not sell his catalog. He wanted to be more innovative and creative in the way we established a partnership.""To that end, through this venture, we constructed and launched a new business model with Abel and his iconic catalog whereby Abel and his team have the freedom to execute their creative vision with the entirety of his rights, both publishing and masters. This unique catalog deal sets a new standard for artist equity and control."The deal is reportedly valued at $1 billion as his catalogue is priced at this number. According to Billboard, the partnership will reportedly see Lyric Capital Group raising $1 billion through the catalogue, with 75% through debt. Lyric Capital will hold the remaining 25% equity stake in the catalogue.This includes The Weeknd's master recordings, which the singer owns with his manager, Wassim Slaiby. Meanwhile, the singer owns only 75% of his publishing, while the remaining 25% is owned by Chord Music Partners. This is notably not a part of the Lyric Capital Group deal. Universal Music Publishing Group will be handling the overall publishing rights as Tesfaye remains one of their signed artists. The deal will also see the singer retaining complete creative and decision-making rights over his master recordings and publishing. This is a unique proposition, as his current ties with XO, Republic, and Universal Music Group will also continue. Tesfaye's partnership with Lyric Capital is set to be the second-most expensive one in the history of music, if it is valued at $1 billion as reports suggest. The most expensive one remains Sony's acquisition of Queen's catalogue for $1.27 billion.