Exclusive: Vinny Cha$e Signs With Epic Records

Newcomer tells MTV News he and his Cheer$ Club label have officially signed with Epic in a joint venture worth $2.5 million.

The Vinny Cha$e sweepstakes is now over. On Tuesday (March 12), the Harlem, New York, MC revealed to MTV News that he has signed a deal worth $2.5 million with Epic Records.

It wasn't just the money: Vin also revealed that the joint-venture deal, which includes his Cheer$ Club label, will also allow him to retain the rights to his publishing.

Cha$e made serious waves last November with his Golden Army mixtape, which included the infectious single "Biggie & Jordans." He made headlines last month after posting a picture of himself with Diddy, fueling speculation that he was planning to sign with Bad Boy. On Monday night, however, Vinny posted a pretty telling Instagram photo of a congratulatory bottle of champagne, which appears to have been sent from Epic Records chairman L.A. Reid. "Thanx @rockstarreid and Quad studios #CHXXR$EpicSony," the photo's caption read.

Though he didn't end up signing with Puff, Vinny couldn't say enough about the mogul during a sit-down with MTV News back in February. "To me, he's an idol, not only because of the stuff he did with Big. He started in the game young, just like us," Cha$e said, making a loose comparison to Diddy's early Bad Boy run and his own Cheer$ Club, which includes his partners Cartier Court and Kid Art. "A lot of people told him he couldn't do this and he couldn't do that."

These days, Diddy's legacy extends way past music. There is his successful Sean John clothing line, an upcoming cable network and, of course, his partnership with Ciroc vodka. "He managed to do all of these things and through the whole way he kept reppin' Harlem," Vinny said. "To come from Harlem and be on the Forbes list, that ain't nothing to be sneezed at. I hope to follow in those type of footsteps with my squad."

Did Vinny Cha$e make the right decision signing with Epic Records? Let us know in the comments!