Jay-Z’s Rocawear and Southpole have been outbid by clothing company Izod  for the naming rights to the Continental Airlines Arena in New Jersey.

The arena is home to the NBA New Jersey Nets which Jay-Z owns a minor share in.

According to Bloomberg , New Jersey’s Sports and Exposition Authority  awarded a $1.4 million-a-year contract for arena naming rights to Izod today (October 4).

The arena’s new name , Izod Arena , will be launched on October 31st during the Nets season opening game.

Jay-Z is getting ready to release his tenth solo album titled American Gangster. The  album is due in stores on November 6 and its tracklisting leaked yesterday (October 3)

XXL reports that the album features production from P.Diddy and The Hitmen , Pharrell , No ID , DJ Toomp, Jermaine Dupri and appearances from Bilal and Beanie Sigel.

Updated October 6th:  Nas will appear on the album.