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.”