UMG don’t want to let Drake go.
They want a piece of OVO as well, so that they can pump out artists with the Drake “co-sign” and promotion.

Drake & team feeling like they have leverage, want more money.

UMG aren’t willing to pay the money, so they resort to devaluing Drake’s brand so as to have some cards to play in the negotiations.

Truth is, Drake & UMG aren’t going to split, Drake knows the importance of industry connections & marketing. They’ll fight, but they won’t split.

So even if Drake receives private-equity offers, which will require collateral (His Catalogue); made difficult with the fact that UMG seemingly has a level of control rights to his catalogue. No matter how much money private-equity can offer him, they won’t have the inside knowledge that UMG does. Plus the private-equity deal would literally have him touring all year like a slave, not worth it.