Jay-Z is hoping to step up his mogul game by winning naming rights to New Jersey's 26-year-old Meadowlands arena, which is currently held by Continental Airlines.
According to the Bergen County Record, the Def Jam president is currently in negotiations to rename the venue after his Rocawear clothing line. Other clothing brands seeking naming rights include Izod and Southpole.
The New Jersey Sports and Exposition Authority (NJSEA), which overseas bids for the naming rights, said a decision could come as early as Oct. 4.
"We're looking forward to presentations by bidders next week, and then we'll get into the process of evaluation," said a rep for the agency. "I'm optimistic that we'll be able to overachieve the current financial deal that we [had] with Continental."
Continental paid $600,000 a year for the naming rights to the arena. NJSEA officials expect to double that figure with the new naming-rights holder, who will be offered a deal through 2009.
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