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12 May 2017, 11:05
The New York rapper has signed a huge deal.
Jay Z has officially renewed his worldwide touring partnership with Live Nation, rumoured to be worth an astonishing $200m.
The New York rapper, who was named as the second richest Hip-Hip star in the world on yesterday’s Forbes List, will reportedly earn the money over a 10-year period.
Jay Z initially signed a 360-deal with Live Nation back in 2008, which helped him to launch his record label Roc Nation.
That 2008 deal, which was worth $150m, included albums, publishing and more. However Hov’s new partnership is reported to only include touring.
“Live Nation and I entered unchartered territory in 2008,” said Jay Z about the deal.
“Over nine years, we have travelled the world producing historic music experiences. [Live Nation CEO] Michael Rapino is an industry visionary, and this renewed partnership is a testament to our longstanding relationship and the talented individuals at Live Nation.
“For the next 10 years, we will continue redefining the live event landscape.”
“Jay Z is one of the world’s preeminent touring artists,” added Rapino.
“This strengthens the creative and business partnership of someone that continues to expand his touring base and reach.”
Meanwhile, Jay Z is rumoured to be working on a new album ahead of festival tour dates this summer, which includes V festival.
Last week, frequent collaborator Swizz Beatz teased new music with the rapper on Instagram, posting a picture of Jay in the studio alongside the caption ‘Album ModeZone’.