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'Suge' Knight claims Dr. Dre hired hitman to avoid $300 million payment in Beats-Apple deal

Dr. Dre with Beats by Dr. Dre headphones
Getty Images
Dr. Dre with Beats by Dr. Dre headphones

American music executive 'Suge' Knight wants nearly one-third of the $1 billion Dr. Dre received when he sold Beats to Apple in 2014, and he claims the producer hired a hitman to evade the payment, according to The Hollywood Reporter.

The Hollywood Reporter reported that the countersuit, filed by Knight's attorney, argues the two had a lifetime management agreement, which entitled Knight to 30 percent of Dre's earnings, including the sale to Apple.

The suit said Dre contracted the man who shot Knight seven times at a club in 2014. It said another attempt was made the night a man was run over and killed by Knight's pickup truck on the set of the movie Straight Outta Compton. Knight was charged with the man's murder and pleaded not guilty.

Dr. Dre's attorney, Howard King, issued a statement saying the two had zero interaction since 1996 and hopes Suge's lawyer has "malicious prosecution insurance," according to the report.

A spokesperson for Dre's Beats Electronics company did not immediately respond to CNBC's request for comment.

Read the full report from The Hollywood Reporter here.

Correction: This story has been updated to reflect that the amount reported is approximately $300 million.