Despite the fact that he's slated to remain behind bars until 2009, the former Bad Boy recording artist is expected to sign a $3 million record contract with Island Def Jam this week. Shyne was sentenced to 10 years in 2001 after he was convicted on charges of gun possession and assault stemming from a night out with P. Diddy and then girlfriend J.Lo in 1999 that ended with a shooting.
Shyne would be the first artist signed by Island Def Jam Music Group since L.A. Reid took over chairman duties in February. The proposed deal states that his albums would be released on Gangland Records an imprint that would be own by Shyne. The first release will consist of tracks recorded before he was sentenced updated with new backing tracks.