Jay-Z is in negotiations to obtain the naming-rights for the Meadowlands Arena, home of the New Jersey Nets (who he partially owns).

Jay-Z is competing against rival clothing brands Izod and Southpole over the naming rights which are currently held by Continental Airlines. If the Def Jam President wins the bid, the 26-year-old arena will be named after his Rocawear clothing brand.

According to the Bergen County Record, The New Jersey Sports and Exposition Authority (NJSEA), who are responsible for handling bids for naming rights, predict the new name for the arena could be announced as early as October 4.

"We’re looking forward to presentations by bidders next week, and then we’ll get into the process of evaluation," said a spokesperson for the NJSEA. "I’m optimistic that we’ll be able to overachieve the current financial deal that we [had] with Continental."