Thursday, June 26, 2008

Jay-Z Eyes NY Yankees, Looks To Invest In Baseball Franchis

Jay-Z may be expanding his already vast investment portfolio with a stake in baseball. The mogul is looking into buying shares into the New York Yankees.

The former Def Jam president has already made sports his business as a shareholder in the New Jersey Nets basketball team as well as his 40/40 sports club franchise - with locations in Manhattan, Atlantic City, Vegas, Tokyo and Macau. His other assets include his recent $150 million deal with Live Nation and his new advertising company with Steve Stoute , among other business ventures.

Jay had previously been in talks to invest in the London-based soccer team Arsenal Football Club but that fell through in '05.

"I had invested in the Nets, and they (Arsenal bosses) asked me if I was interested in investing. But I get that from time to time," Jay told London's Time Out magazine. "Someone told me yesterday that someone else had a piece of the New York Yankees, 'We wanna talk to you, yadda yadda yadda.' I mean, I love the Yankees so I'm in the middle of following that through, but sometimes it comes to be nothing. That (Arsenal) was one of the times it came to nothing."



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