Jay-Z Leaving Def Jam?

It appears rapper Jay-Z is asking for some big bank in order to renew his contract with Def Jam. New York Daily News is reporting that the CEO,, L.A. Reid and his boss, Doug Morris, have indicated Jigga is asking for way too much money. You can read the full story here. Of course you'd have to think Jay-Z has plenty of name recognition and bargaining power. He may even be trying to get out of his contract by asking for an unreasonable sum. And he's made his way with his own label before, so it wouldn't be surprising to see him go that route again. Jay recently received 5 nominations for various Grammy awards and his good friend Kanye received 8 nominations. Also check out these recent slot-machine style invite passes Jay-Z sent out for his upcoming 40/40 club's opening party in Vegas. When you pull the handle the 3 numbers read: 12|30|07 , indicating the date of the party.