Jay-Z Will NOT be managing Beyonce

Jay-Z may be Beyoncé's husband, but the hip-hop heavyweight will not be managing the pop star anytime soon. According to a statement posted by the singer's management website, Music World Entertainment, Beyoncé's father, Mathew Knowles is not being replaced by Jay-Z or anyone else as her manager.

"Contrary to false rumors online, Beyoncé and her manager Mathew Knowles unequivocally have had and continue to have a close personal and business relationship. Mathew Knowles is the sole and exclusive manager of Beyoncé," the statement reads.

Mathew Knowles has always played an important part in his daughter's career, dating all the way back to her days in Destiny's Child. When the group split in 2005, Mathew continued managing Beyoncé as well as Kelly Rowland and Michelle Williams. But Rowland and Williams recently parted ways with Knowles and his Music World Entertainment team. Earlier this year, he also denied claims that the trio were in talks to reunite Destiny's Child.

In addition to refuting the online rumors, the management company confirmed that the singer is working on upcoming music projects. "Furthermore, Beyoncé is readying the release of her new, highly anticipated DVD and has started the recording process for her new album," the statement concluded.

One producer that the singer may be reuniting with for her next record is Ne-Yo. The pair previously worked together on her hit single "Irreplaceable" back in 2006. Just last week, the soon-to-be father tweeted, "Mornin' NY!!! Studio with Mary J Blige last night, Beyonce tonight. I LOVE MY JOB!!! Shout out Jerry Wonder!!"