Jay-Z Sells His Brooklyn Nets Shares To Jason Kidd
A couple years ago, Jay-Z made it his out right mission to bring the then New Jersey Nets to his hometown of Brooklyn, NY. When Hov is in something, he’s in it 100%. He completed his campaign and the New Jersey Nets became the Brooklyn Nets and began to play in the state of the art Barclays Arena. Jay-Z even christened the arena with a series of sold out performances. Jay had made right with hometown and the team that he owned.
Then reports surfaced that Jay-Z really didn’t own but .067% of the franchise that it seemed as though he had made investment along the lines of Usher’s who own 9% of the Cleveland Cavaliers or Nelly’s who owns 10% of the Charlotte Bobcats. Jay-Z was more of a figure head than an owner but fans were calling foul. None the less Hov just shook it off responding to the criticism during one his sold out performances.
“I see them talking, eh you know he’s one-fifteenth of one [percent]. First Of all, I don’t know where they get that number from but I’m cool with it. I know it’s not about me, It’s about ya’ll… “
Well, now Jay-Z owns 0 percent of the Brooklyn Nets as he sold his .o67% ownership to the new head coach Jason Kidd for a cool $500,000. This move is said to be more symbolic than a business move. Almost like a passing of the torch since Jay-Z was forced to sell his share due to the NBA rule that a team owner can’t also represent players in the league. In which Jay-Z does with his new Roc Nation Sports management firm.
Jay-Z Roc Nation sport now manages NBA superstar Kevin Durant, WNBA rookie Skylar Diggins, NFL rookie Geno Smith, NFL superstar Victor Cruz & MLB star Robinson Cano. So I think that .067% won’t hurt Hov’s pockets too much.