Dr. Dre has his sight set on making more money. Variety confirmed yesterday (Jan. 11) that he is working out a deal to sell some of his music royalties and masters for something close to $250 million.

Billboard first reported that Dre is selling his rights in two separate deals, one with Shamrock Holdings and another with Universal Music Group. They also said that the deals are nearly done and were shopped by the superproducer’s attorney Peter Paterno of King, Holmes, Paterno & Soriano.

The assets that are reportedly being sold are said to include his artist royalties from two of his solo albums, his share of N.W.A. artist royalties, producer royalties, and the writer’s share of his song catalog where he doesn’t own publishing rights, which may include songs from his famous 1993 project, The Chronic.

According to Billboard’s sources, that chunk of music, which is worth about $10 million per year, includes 75 percent to 90 percent of the package’s revenue and is likely being acquired by Shamrock, and Universal Music Group will get the remaining 10 percent to 25 percent.

Universal’s deal would include the master recording of The Chronic, which is scheduled to return to Dre from Death Row Entertainment in August. The music group will also receive his share of an Aftermath/Interscope joint venture with the Top Dawg label for Kendrick Lamar releases through that deal; and possibly some other assets. The deal does not include his ownership stake in the Aftermath.

Just yesterday, the Recording Academy announced they will honor Dre at their second annual Black Music Collective event during Grammy week next month. Along with the “Next Episode” rapper, the academy will also recognize rap icons Lil Wayne and Missy Elliott.

If Dre follows through with selling a portion of his music royalties, he’ll join Future, Lil Wayne, Tina Turner and The-Dream as successful artists to have sold their catalogs.