Jay-Z has teamed up with UK soccer star Ashley Cole to open a new restaurant and club in London, reports Reuters.
The as-yet-unnamed restaurant will serve to stimulate the economy, offering jobs to long-term unemployed. It will even donate a certain percentage of profits to charity.
Jay-Z says the club side to their deal will be "the hottest place in town," and with Cole's Premier League friends said to be getting involved, the goal is likely to set the establishment as an A-list hangout.
"London is one of the most vibrant and exciting cities in the world and the perfect location for our new venue," Jay-Z said in a statement. "I'm excited about working with Ashley and NVA Entertainment Group on a range of new projects and The 40/40 London is going to be the hottest place in town."
The club will be part of Jay's successful 40/40 chain, and will open sometime in 2012. A top chef is expected to deliver a modern American-themed menu for the restaurant/bar that will feature top DJ's and A-list artists. A shortlist of three potential sites is now under consideration.
Cole is no doubt looking forward to the new venture and elbow-rubbing with the untouchable Hip-Hop superstar, after stories about Ashley's cheating on former wife Cheryl Cole have saturated the soccer player's native homeland in recent months.
"I am delighted to be working with Jay Z I have grown up listening to his music and now to be doing business with him is amazing and the projects we do will be delivering much needed funds back into sport and music on a local community level as well as helping talented young people get back to work," Cole said in the statement.
Meanwhile, a release date and cover art has been released for Jay-Z's hotly anticipated upcoming collaboration album with Kanye West, entitled Watch The Throne. Learn all you need to know about that right here: Watch The Throne.