Hip-hop mogul Jay-Z is looking to expand his range of investments into the baseball world - he wants to own shares in the New York Yankees.

The rap superstar already heads up an empire that includes the Roc-A-Fella Records music label, Rocawear clothing and Armadale vodka - in addition to being a shareholder in the New Jersey Nets basketball team.

He has previously been linked to a deal with London soccer team Arsenal Football Club, and while Jay-Z admits the rumors were true, negotiations fell through in 2005.

And now the star has a new sporting interest - he's in the midst of talks to buy shares in the Yankees.

He tells London's Time Out magazine, "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. 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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(This news article provided by World Entertainment News Network)