UPDATE 10/22, 1:30 p.m. ET: Suge Knight clarified reports that he signed over his life rights to Ray J. In an audio recording obtained by The Blast, an incarcerated Knight says that his fiancée is the main point person when it comes to his life rights. In the audio below, Knight calls Ray J "the little brother and family," and explains that he will handle all things Death Row Records moving forward. 

See original story below. 

With Suge Knight behind bars for voluntary manslaughter, the Death Row Records co-founder has had to find a new way to make money. Sources close to Knight told TMZ he sold away his life rights to Ray J, allowing the "One Wish" musician to handle Knight's business decisions while he's otherwise occupied in prison.

Ray J will reportedly be in charge of selecting any possible biopics or biographies about or involving Knight. This means Ray J is in the position to give the go-ahead on any projects involving Knight's likeness or life story, offering the former music executive the opportunity to bring in some cash. Sources have indicated a documentary on Death Row Records and Suge is already underway, and there's even the chance the label itself could make a return after closing its doors in 2009. Another unspecified project focused on the life of 2Pac is in discussion, too.

While it's not clear what the likelihood of a Death Row revival is, it would likely take some big commitments from outside investors. Knight has given Ray J permission to pursue the possibility, however. The two have allegedly been friends for years, and Knight trusts him specifically to make good business decisions in his name. 

Ray J may already have a taker if 50 Cent's Instagram was to be believed. The Power executive producer told Ray J in a since-deleted Instagram post to "call me I know what to do with this," according to HotNewHipHop.

Suge Knight struck a 28-year plea deal for voluntary manslaughter last year, but he could be released in just over a decade due to prior time served and prison overcrowding issues.