In a noteworthy turn in the ongoing legal tussle over Prince’s estate, a Delaware judge has sided with the late artist’s former business advisors, L. Londell McMillan and Charles Spicer Jr. The ruling bars four of Prince’s family members from ousting McMillan and Spicer from their roles at Prince Legacy LLC, the estate management holding company they co-founded with several of Prince’s legal heirs.
McMillan and Spicer, as managing members of Prince Legacy LLC, faced resistance from Prince’s half-sisters Sharon and Norrine Nelson, along with his niece and nephew, Breanna and Allen Nelson. These relatives attempted to alter the LLC agreement to remove McMillan and Spicer, an act the court deemed a breach of the agreement’s terms.
In her ruling, Chancellor Kathaleen St. Jude McCormick stated, “The LLC agreement is unambiguous and [McMillan and Spicer]’s interpretation is the only reasonable one.” She affirmed that the plaintiffs had adequately alleged a breach of contract, preventing the family members from making unilateral changes to the agreement.
McMillan expressed his satisfaction with the ruling, emphasizing his longstanding dedication to Prince and his legacy. “We are pleased with the Judge’s decision and wish we were not forced to take legal action for the wrongdoing of the Defendants (and their advisors). Yet we have a heavy responsibility to preserve and protect Prince’s legacy and all he created, by any and all appropriate means necessary,” he said.
The dispute centers around the management and direction of Prince Legacy LLC. According to court documents, Prince’s siblings inherited equal interests in his estate, with three of them transferring their combined 50% interest to Prince Legacy LLC. McMillan and Spicer, who assisted some of the heirs during the probate process, were compensated with a 10% interest each in Prince Legacy and granted broad management authority as Managing Members.
Tensions rose when Sharon Nelson, who regretted the initial agreement, began demanding significant changes, such as replacing the entire staff at the Paisley Park Museum. When McMillan and Spicer refused, Sharon led the effort to remove them by attempting to amend the LLC agreement, a move the court has now blocked.
Additionally, the lawsuit alleges that Sharon and Breanna Nelson sought to sell their shares to Primary Wave, which could shift the balance of control within the estate. McMillan and Spicer’s complaint contends that these actions were taken without the required unanimous consent from all members of Prince Legacy LLC.
Prince’s estate has been a contentious issue since his death from a fentanyl overdose in 2016. The lack of a will led to a protracted six-year legal battle in Minnesota probate court over the division of his assets. This battle concluded in August 2022 with the estate being divided into two entities: Prince Legacy LLC and Primary Wave.
The recent ruling represents a significant victory for McMillan and Spicer, who continue to fight to protect and manage Prince’s legacy as per the original terms agreed upon by the heirs. The legal battle, however, is far from over, as the dynamics of estate management and the interests of various stakeholders continue to evolve. The case highlights the complexities involved in managing the legacy of a prolific artist like Prince, whose influence and contributions to music and culture remain deeply impactful.
