Off Beat: The great black sale continues

Def Jam Prexy Shawn "Jay Z" Carter has reportedly entered a deal to sell his Rocawear Clothing Line for $204 Million. Apparently Mr. Carter wants to put his money into bigger things like the rumored 40/40 Hotel & Casino? "Iconix is pioneering a new brand management model and by combining Rocawear with their platform, my team and I can focus on our strengths in design and lifestylemarketing." Jay-Z said. "I'm also looking forward to working with Neil Cole and the Iconix organization on other brand development opportunities." Jay-Z will continue to be in charge of all product development, marketing and licensing for Rocawear, which boasts annual retail sales of over $700 million. Rapper Jay-Z Sells Clothing Company Rocawear For $204 Million In Cash [AHH]