Lloyd Banks Says He's In-Between Labels, "I Completed My Situation W/ EMI"

G-Unit's Lloyd Banks is currently a free agent as the Queens, New York rhyme spitter has revealed he no longer has any contractual obligations to EMI Music.

Having released his Hunger For More 2 last fall through EMI, Banks said he is now on the market.

"Well, right now, I'm in-between situations now," Banks revealed. "I completed my situation with EMI [Music] and I'm going right back to the drawing board. I've been working, constantly just making music for my mixtape series and at the same time, for my next album. So I'm about 18 to 20 records in to my next album already." (RapFix)

In July, G-Unit leader 50 Cent addressed speculation suggesting Banks would leave his group.

Even though 50 has championed G-Unit's independence, speculation has swirled about whether Banks would sign to DefJam where former G-Unit president Sha Money XL now resides as the Senior VP of A&R. 50, without saying it directly, shot down the notion of a Def Jam deal, citing the label's supposed-financial woes. Recently, the legendary rap label has gone through a bit of restructuring with former head honcho L.A. Reid leaving and Barry Weiss stepping in as chairman and CEO. Regardless, Fif doesn't seem too optimistic for a future at the label. "Well, Def Jam, I'm not even sure what that system -- that system is not in a good space right now. They're like $80 million in the hole," he said, before laughing, "Don't tell them I told you." (MTV)

Last year, Banks said Def Jam and Interscope were both interested in signing him.

"I mean, yeah, they been reaching out, Interscope" Banks confirmed in an interview. "And a few other labels, Def Jam, at this point man, like I said, I've been completely independent, we've sold over 200,000 units already through iTunes -- at this point, whatever makes sense, is the deal I'll go with. If it makes more sense to stay where I'm at, then I'll stay and be independent. If they drop that big bag, then we can talk. I don't ever want to shut no doors out so we'll see what happens in the near future." (Posse TV)

G-Unit affiliate Sha Money XL, also Def Jam A&R VP, recently said he tried to bring Banks to the label.

"I tried to bring [Lloyd] Banks, but they chose EMI," Sha told radio host EI8HT. "The album was amazing but I know I could have did more at Def Jam because Banks is a star. He just needs the right people behind his music. He got 50 [Cent] behind him but I think the machine of Capitol/EMI, they just didn't know what they had. So, they just did my homie wrong. But I tried to bring Banks in." (Street Disciplez Radio)

Lloyd Banks' Hunger For More 2 debuted at No. 26 with 45,000 copies sold last November.