BtoB’s contracts with CUBE Entertainment reportedly expire, agency responds

nme.com:

CUBE Entertainment has responded to reports of BtoB’s contract expirations in an official statement.Earlier today (November 1), South Korean media outletIlgan Sports reported that the contracts of five BtoB members had expired, alledging that the K-pop idols and CUBE Entertainment have yet to come to an agreement on a possible renewal.According to the report, BtoB are interested staying as group even if they leave CUBE Entertainment.

Ilgan Sports also claims that several other labels have offered up to ₩6billion (approximately £3.64million) as a down payment to house the group if they decide to depart from their long-time agency.Shortly after reports of BtoB’s contract expiration surfaced, CUBE issued a brief statement to Xport News, saying that “the contract between CUBE Entertainment and some of the BtoB members has not yet concluded”, as translated by Koreaboo.“We plan on doing our best until the end of the contract,” CUBE Entertainment added.“We understand that the BtoB members are working through this situation with an open mindset, looking at various options.”In response to claims of third-party labels approaching BtoB, CUBE Entertainment said: “The amount mentioned in the article has nothing to do with our company’s position related to the matter.”BtoB debuted as a seven-member group in 2012, and have last renewed their contracts with CUBE Entertainment in 2018.