Goodbye Brooklyn? Jay-Z To Sell His Nets Share
The home that Hov built may no longer be home. According to reports, Brooklyn Nets minority owner Jay-Z will sell his stake in the team so that he can become an NBA agent.
Last week, the rapper announced the launch of Roc Nation Sports … a sports management company whose first client is New York Yankees star, Robinson Cano. In order to become an agent and represents NBA clients, Jay has to give up his share in the Nets which, according to ESPN’s Darren Rovell, is .067 percent.
“It would be disappointing [if he left],” Nets coach P.J. Carlesimo said. “I’d be disappointed.
“He had an enormous amount to do with the rebranding of the team. I wasn’t close to it at all, but from what I’ve seen, it would be hard to overstate his importance in this all. I like his involvement in the team; he’s at the games, and maybe he’s around more than I realize behind the scenes. But he’s an excellent fan, one that wasn’t just around this year, but a lot in the past too, which is very telling to me.”
Jay’s share in the team comes out to around $350,000, so dumping his stake shouldn’t take too long considering the coffers of his friends.