Jay-Z Denies Contract Talks Have Stalled Over Money Demands

US rapper Jay-Z has denied that contract with the Universal Music Group have stalled over his financial demands.

Reports had claimed that the rapper, whose real name is Shawn Carter, was asking for more money in order to stay at Def Jam Records – a subsidiary of Universal.

Carter said that money was “the last thing” causing the delays, which have also raised questions about his commitment to the label.

“Of course you want to be compensated for what you do. But it's really not about money,” he told MTV.

"It's really about the future of the music business, and not wasting anyone's time. I don't ever want to sit in a seat just to sit in a seat. I could be off doing something else that's beneficial to the future of the music business as well as myself. So it's not about money!”

He added: “I mean, you couldn't pay me enough. And I don't mean that in a cocky way."

Carter currently holds the position of president at Def Jam.