Jay-Z to open London nightclub with Ashley Cole – Tabloid Hell

Rapper is apparently going into business with controversial Chelsea FC footballer

Jay-Z is planning to launch a new restaurant/nightclub with footballer Ashley Cole, according to one red top.

The rapper is already looking for possible venues for the nightspot in London‘s Pall Mall area, The Sun reckons.

The club will apparently be “ultra-posh” and called 40/40, the same as Jay-Z‘s chain of US nightclubs.

Controversial Chelsea footballer Cole is apparently hoping that going into business with the hip-hop mogul will improve his image, as each month a percentage of the profits will be handed over to charity.

The on-off lover of former X Factor judge Cheryl Cole has already set his heart on helping young filmmakers in the capital.

A ‘source’ told the newspaper: ” He’s [Cole] aware his football career won’t last forever and this is the ideal way to launch into a new area of expertise. He knows that his reputation isn’t great and working with charities and disillusioned young people would help.”

Earlier this year, the same red top reported that Jay-Z was planning to help Ashley enter the music business. The England left-back is apparently looking to invest money in the music world, rather than becoming a rap superstar.