Jay Z Buys Ace Of Spades (Armand De Brignac) Brand Champagne

Thanks to Jay Z, the gold bottle of Ace of Spades champagne has become a Hip Hop status symbol. But there is a reason Jigga touts the brand in his songs and videos; he has long had a deal with Ace of Spades that pays him up to 50 percent of the profit on every bottle sold. Now, as of today, he owns all of what is technically called Armand De Brignac.

"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," Sovereign Brands said in a press release.

The New York Times contacted Sovereign's global director of communications Yvonne Lardner, and she added this in an email to the paper: "We have had a wonderful relationship with Jay Z throughout the years since he first discovered Armand de Brignac. He became interested in owning the brand and made us an offer we simply couldn't refuse."

Hmm. "An offer we simply couldn't refuse" sounds like Jay Z paid more than market for the brand. But we guess that's par for the course when you're talking about champagne that cost about 15 bucks a bottle to make and goes for at least $300 at the club.

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