Jay-Z In Negotiations To Acquire Naming Rights For NBA Arena

Just because he has a new album on the way doesn't mean Jay-Z is easing up on his ever growing business ventures. The rap mogul is in negotiations to change the name of Continental Airlines Arena, where the NBA's New Jersey Nets play, to Rocawear Arena. Jay-Z is part owner of the Nets, and also owned Rocawear clothing until he sold it for $202 million dollars earlier this year. Although he is no longer owner he still holds a position within the company, so this move could be beneficial for the star in more ways than one.

The New Jersey Sports and Exposition Authority (NJSEA) is handling the bidding for naming rights to the arena. They say the public could learn of the new arena name by as early as Ocotber 4th. Whoever wins the bid will hold naming rights for two years, until the Nets move to Brooklyn (which is also Jay-Z's home town). "We're looking forward to presentations by bidders next week, and then we'll get into the process of evaluation," he said. "I'm optimistic that we'll be able to overachieve the current financial deal that we [had] with Continental."
"Allhiphop":http://allhiphop.com/blogs/news/archive/2007/09/25/18645181.aspx