Nightclub owned by Jay-Z closes after 20 years following $10m renovation as rapper’s company owed $115,000 in debts

A NIGHTCLUB owned by rapper Jay Z has closed after 20 years following a $10million renovation.

The 40/40 Club, which opened in New York City in 2003, shuttered in July but has plans to reopen in a new location.

Jay-Z's 40/40 Club has shuttered its Manhattan location

Jay-Z’s 40/40 Club has shuttered its Manhattan locationCredit: Getty Images – Getty

The venue has plans to reopen in 2024 in a new location

The venue has plans to reopen in 2024 in a new locationCredit: Getty Images – Getty
The venue has plans to reopen in 2024 in a new location.

Andrea Thomas, a spokesperson for the company, shared the intended future plans with Eater New York.

The 40/40 Club underwent a $10million renovation in 2012.

Jay-Z told Rolling Stone at the time:  “I wanted to retain the feel of a clubhouse, a relaxed place to interact with friends.”

The renovation was meant to help the club keep up with other, newer venues in the area.

Eventually, the club grew into a chain of bars and restaurants, including one in Atlantic City, New Jersey.

But then, a lawsuit claimed that the company behind the venues owed over $115,000.

The money was from unpaid rent and additional charges, according to Eater.

Despite the 40/40 Club’s Manhattan closure, a location at the Barclays Center in Brooklyn remains open, arena spokesperson Jake Spitz told Eater.

Meanwhile, Jay-Z is reportedly plotting to buy the Tottenham Hotspur soccer club in a stunning multi-billion-dollar takeover.

Express claims that Jay-Z, married to pop sensation Beyonce, is now lining up an incredible offer for Tottenham.

The 53-year-old rapper is said to have amassed a personal net worth of more than $2billion.

The shock links come after Beyonce headlined a series of concerts at Spurs’ stadium this summer.

An associate of Jay-Z told the Express: “More than a few of the very top clubs there – like Manchester United, Liverpool and Chelsea – are now under US ownership and Jay would jump at the chance of a controlling interest at board level somewhere with the global reach of Spurs.

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