Young Money is the team to beat at the 2012 Grammy Awards. Racking up a plethora of nominations, both individually and collectively, Lil’ Wayne, Nicki Minaj and Drake (as well as affiliate DJ Khaled) have proven that there really is strength in numbers. Young Money boss Lil’ Wayne snagged an impressive five nods while first lady Nicki Minaj is up for Best New Artist, in which she is up against The Band Perry, Bon Iver, J. Cole and Skrillex.

Young Money boss Lil’ Wayne snagged an impressive five nods while first lady Nicki Minaj is up for one of the night’s biggest honors, a nomination for Best New Artist, in which she is up against The Band Perry, Bon Iver, J. Cole and Skrillex. In a master versus protege moment of sorts, Nicki will also compete against Wayne in the Best Rap Album category with Pink Friday versus Tha Carter IV. The Best Rap/Sung Collaboration award could very well be renamed the Drake Collaboration award as DJ Khaled’s mega-hit I’m On One” featuring Drake, Rick Ross and Lil’ Wayne goes head-to-head with Rihanna and Drake’s sexy track “What’s My Name?”

The Best Rap Performance category looks especially good for the label as Wayne, Nicki and Drake all have nods, on Chris Brown’s frenetic “Look at Me Now” and the introspective “Moment 4 Life,” respectively.

Wayne and company will enjoy plenty of airtime on the Grammy stage as well, in two separate, but highly anticipated performances. Genres will collide when Lil’ Wayne joins EDM powerhouses deadmau5 and David Guetta for a dance/electronica music throw down while Barbz everywhere can catch Nicki in her very first performance on the award show.

More than a few eyebrows are sure to be raised as Nicki unveils the brand new track “Roman Holiday” from her upcoming sophomore album Pink Friday: Roman Reloaded.

Drake was really onto something with that”Man I love my team/Man I love my team” sentiment on “Up All Night.” The 54th annual Grammy Awards are set to air Sunday, February 12 on CBS at 8 p.m. ET.

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