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The megabucks star, who controversially headlined Glastonbury this year, is one of the biggest music stars on the planet and is married to singer Beyonce.
But he has agreed to play second fiddle to Coldplay for the one-off date because he is good pals with Coldplay frontman Chris Martin.
Last night, an insider said the talks to do the shows together came about while Jay-Z was in the UK to headline the Glastonbury festival at Michael Eavis's farm in Somerset.
An insider said: "It has come about because Jay-Z and Chris Martin are good friends. Apparently, Emily Eavis, who is Michael's daughter, had been chatting to Chris and the idea of the shows together came about."
Noel Gallagher controversially criticised Eavis for allowing Jay-Z to headline the British music festival.
After the announcement, the Oasis frontman blasted: "If it ain't broke, don't fix it. If you start to break it then people aren't going to go. I'm sorry, but Jay-Z? No chance. I'm not having hip-hop at Glastonbury. It's wrong."
But there are unlikely to be any protests from Scots fans at the added bonus of seeing Jay-Z alongside one of Britain's biggest bands - and the possibility that his bootylicious wife could be in tow.
Last week, US money magazine Forbes listed Beyonce and Jay Z - real name Shawn Corey Carter - as Hollywood's richest couple.
However, it is unknown whether Beyonce, who is currently at the top of the singles charts, will accompany him to Scotland, she has said she loves it here. During a previous visit, Beyonce said: "I love the Scots audiences.
"They are among the warmest in the world."
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