The thing is is that not only does he hold the rights to the name "The Time" but he wrote just about everything on "their" first two albums and played most of the instruments. Presumably he still owns rights to all that as well which means he gets paid every time one of those albums or songs is sold or played.

So why be a jerk at this point? They tour as The Time, interest in the back catalog goes up and Prince makes more $$$.

This is exactly why Terry Lewis and Jimmy Jam left the first time around-too much control. I wonder if this is his way of getting even for them walking out all those years ago.