NEWS

It’s Official: Jay-Z No Longer Part Owner Of Brooklyn Nets

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It’s official, Jay-Z has given up part ownership of the Brooklyn Nets to focus on building his sports agency, Roc Nation Sports.

Mr. Carter posted the news on his website Thursday afternoon, and explained that being a member of the Nets organization surpassed some of his greatest ambitions.

“It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team,” the rapper wrote.

Jay also addressed his plans for Roc Nation Sports.

“Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.”

 

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