Jay-Z wants own arena

Rap mogul Shawn "Jay-Z" Carter is planning to launch his very own arena in New Jersey - named after his Rocawear clothing brand.

Rap mogul Shawn "Jay-Z" Carter is planning to launch his very own arena in New Jersey - named after his Rocawear clothing brand.

The hip-hop star, 37, is currently in talks with The New Jersey Sports and Exposition Authority (NJSEA) over naming rights to the arena in Meadowlands, which is currently held by Continental Airlines.

The 99 Problems rapper - who owns a stake in local basketball team, the New Jersey Nets - will face stiff competition from rival fashion brands Izod and Southpole, but the eventual sponsor can expect to pay more than $600000 a year for the naming rights.

A spokesman for the NJSEA tells AllHipHop.com: "We're looking forward to presentations by bidders next week, and then we'll get into the process of evaluation.

"I'm optimistic that we'll be able to overachieve the current financial deal that we (had) with Continental."

The winner could be announced on October 4 - Wenn

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