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  • Jay Z Sells Stake in Brooklyn Nets

    Thu, 05 Sep 2013 10:35:59

    Jay Z Sells Stake in Brooklyn Nets - He had to in order to operate a sports agency

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    • Jay-Z - LOS ANGELES, CA - AUGUST 31: Recording artist Jay Z attends day 2 of the 2014 Budweiser Made in America Festival at Los Angeles Grand Park on August 31, 2014 in Los Angeles, California.
    • Jay-Z - LOS ANGELES, CA - AUGUST 31: Recording artist Jay Z attends day 2 of the 2014 Budweiser Made in America Festival at Los Angeles Grand Park on August 31, 2014 in Los Angeles, California.
    • Jay-Z - LOS ANGELES, CA - AUGUST 31: Recording artist Jay Z attends day 2 of the 2014 Budweiser Made in America Festival at Los Angeles Grand Park on August 31, 2014 in Los Angeles, California.

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    Rapper Jay-Z has sold his stake in basketball team the Brooklyn Nets (formerly the New Jersey Nets) to the team's coach, former baller Jason Kidd.

    The Hova signed over his ownership stake to Kidd for around $500,000.

    Beyoncé's hubby had to sell his stake in the NBA team not because he wanted to, but because he had to. It was a conflict of interest after he formed his own sports agency, Roc Nation Sports. He could not own a sports agency and represent players while owning part of an NBA team.

    A source said, "Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him."

    What is your favorite NBA team?

    —Maggie Pannacione
    09.05.13



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