Earlier this year, Jay said he'd like to invest in the club, but now he wants a "hands-on" role.
"We would have to spend much more time in London. Bey knows how much I love sports and has known about my interest in Arsenal for a while,"
he said.
"I never want to be a back-seat investor. I want to be on the board, involved in the decision-making. I'm at the stage of my career where I am ready for another investment like this. "
Jay-Z, 40, already has a part share in the New Jersey Nets basketball team and was rumoured to have tried, unsuccessfully, to persuade his friend LeBron James to join the team.
Jay's going broke.... Low taxes in London
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