Jay-Z is planning to expand his 40/40 franchise which already includes establishments in five U.S. cities. For his latest business venture Jigga is partnering up with Chelsea footballer Ashley Cole to open a 40/40 nightclub in London next year.
NVA Entertainment Group (NVA) brokered a multi-million pound deal that will see Cole and Jay-Z work together on a number of new ventures. ‘The 40/40 London’ will be the first project of the partnership.
The management team will be appointing a top chef to deliver a modern American themed menu for the restaurant/bar that will feature top DJ’s and A-list artists. A short-list of three potential sites is now under consideration with a final decision expected in August.
The 40/40 London will give first option on jobs to talented, long-term unemployed young people. Each month, a percentage of the profits will go to local youth charities for music and sport projects in deprived communities. NVA has a high profile track-record in sport and entertainment working with the likes of John Terry, Robinho, Usain Bolt and Antonio Valencia.
Jay-Z said: “London is one of the most vibrant and exciting cities in the world and the perfect location for our new venue. 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.”
Cole said: “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.”
