According to a person in the know, Jay Z and Kanye West are rumored to have been
in some kind of a PHYSICAL ALTERCATION - with whispers that Jay may have
"slapped" Kanye.

Rumors of a CHILL in the two's relationship began
showing up last month - when Kanye West REFUSED to perform at a Brooklyn
concert, designed to promote the duo's new album.

And last week, the pair
performed at the same concert - but they DID NOT go on stage
together.

According to our pals at the NY POST, Jigga and Yeezy's
disagreement stems from their upcoming concert - where Jay wants to keep costs
down, and Yeezy wants an EXPENSIVE over-the-top production.

But our
insider, who is VERY close to the two (remember we were the FIRST and ONLY place
to get those WATCH THE THRONE PICS), says that the trouble goes FURTHER BACK
than that. They claim that it was there while the two were
recording.

Tells MediaTakeOut.com's insider, "There were some tense days
in the studio . . . and I heard Jay put hands on Kanye . . . a slap."