In an interview with today, Jay-Z verified that he will indeed be going independent, severing all ties from label Island/Def Jam.

Doug [Morris] and I spoke directly and had one of the most unique ‘negotiations’ ever,Jay told the website. “Doug won the toss, but we both won in the end. I thank him for allowing me to become a completely independent artist.

After rumors and speculation that the former President and CEO of Def Jam may have bought back his recording contract for an alleged amount of $5 million, Jay’s deal with Morris (CEO of Universal Records) will give the rapper an opportunity to own and control the rights to all of his music, including his upcoming release, The Blueprint 3.

“For me, the process of making an album is difficult with so many things going on,” he told earlier this year. “And me, I wanna make it beyond and above. I’m gonna take my time with it. I don’t have any quotas, and that’s a good thing.”

The upcoming album may just be the debut LP on the Roc Nation label (Jay-Z’s joint venture with Live Nation). In addition to his independent status, Jay has been occupied, signing new artists to the label.

To read more of Jay-Z‘s interview with Rap Radar, [click here]