The Run This Town rapper, 46, is said to have offered $40million to the late musician's sister Tyka Nelson and her husband Maurice Phillips in order to snap-up the tunes.
According to TMZ, Jay Z had Prince's only full-blood sister and her husband flown to New Yrok for a meeting. The 99 Problems rapper is said to have made a bid to get the right to music that was unearthed at Prince's Paisley Park estate after his death in April.
The website claims that sources close to the Purple Rain hit-makers family said he made them an offer of 'around $40million'.
However there was a slight problem surrounding the deal, as Tyka is said to have to get agreement from all of the singer's brother and sisters, as well as the trust managing Prince's estate.