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.
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