Jay Z becomes stakeholder in favourite Champagne brand

Hip-hop mogul Jay Z has become a part-owner of his favourite Armand de Brignac brand of Champagne, eight years after naming it his bubbly of choice.

The Empire State of Mind hitmaker began promoting the drink, nicknamed Ace of Spades due to the symbol on the gold bottles, in 2006 after deciding to lead a boycott of Cristal following critical comments made by managing director Frederic Rouzaud about its popularity among the rap community.

In response, Jay Z withdrew Cristal from sale at his chain of 40/40 Club sports bars, and declared: "It has come to my attention that the managing director of Cristal, Frederic Rouzaud, views the 'hip-hop' culture as 'unwelcome attention'.

"I view his comments as racist and will no longer support any of his products through any of my various brands including the 40/40 Club nor in my personal life."

Jay Z reportedly had a financial deal in place with Armand de Brignac owners to benefit from his wide endorsement, which included a placement in his 2006 video for Show Me What You Got, but now he has become an investor after taking over the stake previously held by executives at Sovereign Brands.

A statement released on Wednesday (05Nov14) reads: "We are proud to announce that Sovereign Brands, a New York-based wine and spirits company owned by the Berish family, has sold its interest in the Armand de Brignac ('Ace of Spades') Champagne brand to a new company led by the globally renowned Shawn 'Jay Z' Carter."