Juelz Santana Out Of Diplomats, But Says He's Cool With Cam'ron: 'It's Still Dip Set 4 Life!'

Cam says he sold rapper's contract to Def Jam for $2 million, and Santana celebrates via e-mail.

The long-standing contractual dispute between Diplomats founder Cam'ron and protégé Juelz Santana is officially over. After months of internal fighting, Santana has been released from the 'Set's onetime fledgling label.

According to a recent blog post on MissInfo.tv, Cam'ron revealed to the radio personality weeks ago that he "sold Juelz's contract to parent label Def Jam for $2 million." Late Thursday, Juelz hit up Info, confirming the split.

"Yeah, I'm free!! And ready to do me," Juelz noted in the e-mail. "But it's still Dip Set 4 life!! It's just going to be a new chapter!!

Bandana Santana then specifically addressed his former mentor: "I have no hard feeling for Cam, after all, he did give me a chance!!! But I will say this: I was loyal to him and he took advantage."

With the Harlemite's new contract in place, Juelz will now report directly to Def Jam. The label's radio division sent out e-mails last week alerting the public that Juelz was back on the horizon after a four-year hiatus, with a new mixtape, The Reagan Era, and studio album Born to Lose Built to Win on the way.

Def Jam had no comment when reached by MTV News.

In January, Juelz joined fellow Diplomat Jim Jones when he revealed that he wasn't happy with Cam'ron and his recording contract. Santana went on to suggest that Cam had some shady business dealings up his sleeve. The "There It Go (The Whistle Song)" rapper then refused to release any music until he was released from the label that at one point dominated the East Coast rap scene.

Juelz, however, has vowed that he's still Dipset for life, most recently at Thursday's Pepsi DJ Division concert in New York, where Elz and Jim Jones performed. Santana made it clear to the crowd that "Dipset was in the building."

"I would like to say sorry to all my fans and the DJs and most of all, my city, New York. Playtime is over. I'm back. Y'all n---as know what time it is."