Jay Z set to invest in Arsenal

London: Singer Jay Z is planning to invest in British soccer team Arsenal.

The rapper had earlier spoken of his interest in becoming a major shareholder in Barclays Premier League club Arsenal, admitting he is a huge fan.

Jay-Z also co-owns a US basketball team, the New Jersey Nets.

"(Wife Beyonce Knowles and I) would have to spend much more time in London. Beyonce knows how much I love sports and has known about my interest in Arsenal for a while," contactmusic.com quoted him as saying.

"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. I have really got into soccer over the last 10 years and I`ve been saying for some time I want a percentage of Arsenal," he added.