Toronto MC Drake, arguably the most talked about up-and-coming artist since Kanye West and 50 Cent, is involved in a serious bidding war between at least three major labels according to Billboard.

As XXLMag.com reported last month, Drake is close to signing a deal, but has yet to sign on the dotted line. Billboard has learned that Drizzy will most likely go to Universal, due to the labels relationship with his crew Young Money. At the same time, this has not deterred other labels from baiting the So Far Gone rapper, whose mixtape single Best I Ever Had is receiving serious radio airplay. In fact sources tell Billboard that three majors are in possibly one of the biggest bidding wars ever. It is rumored that an undisclosed company has offered Drizzy $2 million to join their ranks.

In addition, Warner Music Group CEO Lyor Cohen and Chief Operating Officer Julie Greenwald made a notable appearance at Drakes New York City concert last week, showing Atlantics interest in the former Degra**i actor.

Rumors hit the net last month that Drake had already signed to Universal. At the time his manager Gee Roberson of Hip-Hop Since 1978, whose clients include Kanye West, Lil Wayne, Young Jeezy and Just Blaze, denied the claims. Drake isnt signed to Universal Motown, Roberson told XXL. Hes currently in the final negotiations of his deal.