Scott Borchetta, the man who sold Taylor Swift's catalog in a $300 million deal to Scooter Braun, says the singer has been misleading about the situation, claiming she had the chance to purchase her work, and knew well ahead of time of his deal with Braun.
Borchetta, 56, who founded Big Machine Label Group, posted an open letter on the label's website, claiming the songstress had a shot earlier at buying the work, which fell through when she inked a pact with Universal Music Group last November.
The music industry exec shared text exchanges and documents linked to their business dealings spanning from last November through this month, and gave his side of the situation in the extensive piece.
The latest: Scott Borchetta, 56, the man who sold Taylor Swift's catalog in a $300 million deal to Scooter Braun, says the singer has been misleading about the situation, claiming she had the chance to purchase her work, and knew well ahead of time of his deal with Braun
'So, it's time for some truth…,' Borcetta, 56, wrote to lead off the post on a day the business brouhaha had attracted attention from all corners of the music business, with Swift characterizing Braun in her Tumblr post as a manipulative bully, and saying she had no advance notice of the deal.
Borcetta said shareholders voted to approve the sale this past Friday.
Borcetta said Swift's dad, Scott, was a shareholder involved in the vote, in which 'three of the five shareholders' voted yes on the deal with Braun's Ithaca Holdings company.
'Out of courtesy, I personally texted Taylor at 9:06 p.m., Saturday, June 29 to inform her prior to the story breaking on the morning of Sunday, June 30 so she could hear it directly from me,' Borcetta said, noting he was skeptical of Swift's claim she 'woke up to the news when everyone else did,' citing his text and multiple sources who might have informed her of the deal ahead of time.
Bad mix: Swift said in a Tumblr post that Braun, snapped last month in Nashville, acquiring her catalog was her 'worst case scenario'
Accord: Borchetta and Braun posed together at a private home in Montecito, California on Friday
In his post, Borchetta outlined the terms of what he called an 'extraordinary' offer to Swift which would have kept her at Big Machine Records and given her ownership of her material.
'Taylor had every chance in the world to own not just her master recordings,' he said, 'but every video, photograph, everything associated to her career. She chose to leave.'
He went over their interactions during the critical time period in which she switched labels.
'Taylor and I then talked through the deal together,' he said. 'As you will read, 100 percent of all Taylor Swift assets were to be transferred to her immediately upon signing the new agreement. We were working together on a new type of deal for our new streaming world that was not necessarily tied to "albums" but more of a length of time.'
Borcetta said he and the songstress 'remained on very good terms' throughout the negotiation process, and upon her pact with Universal.
Borcetta said he was not aware of her passionate feelings about Braun, though he was aware of her discord toward's the manager's superstar client, Justin Bieber.
On the record: The music exec said he was skeptical that Swift learned about the sale as news broke on Sunday
Bringing the receipts? Borchetta outlined the terms of what he called an 'extraordinary' offer to Swift which would have kept her at Big Machine Records and given her ownership of her material, posting documents of the offer he made
'As to her comments about "being in tears or close to it" anytime my new partner Scooter Braun's name was brought up, I certainly never experienced that,' he said. 'Was I aware of some prior issues between Taylor and Justin Bieber? Yes.
'But there were also times where Taylor knew that I was close to Scooter and that Scooter was a very good source of information for upcoming album releases, tours, etc, and I'd reach out to him for information on our behalf. Scooter was never anything but positive about Taylor.'
He said Swift twice passed on Braun's offers to include her in shows he organized following the Manchester bombing in 2017 and the Parkland, Florida school shooting in 2018.
He posted both text exchanges from Swift's departure from his label last November; and a message he sent her Saturday.
In Swift's message dated November 19, she wrote, 'Owning my masters was very important to me, but I've since realized that there are things that mean even more to me in the bigger picture. I had a choice whether to bet on my past or to bet on the future and I think knowing me, you can guess which one I chose.'
In the message he sent her Saturday, Borcetta advised Swift that the Wall Street Journal was going to report news of the Braun merger, adding, 'I wanted to pass along to you the same courtesy that you passed along to me in regard to my future.'
A representative for Swift told MailOnline: 'Scott Swift is not on the board of directors and has never been. On June 25, there was a shareholder phone call that Scott Swift did not participate in due to a very strict NDA that bound all shareholders and prohibited any discussion at all without risk of severe penalty.'
'Her dad did not join that call because he did not want to be required to withhold any information from his own daughter. Taylor