New Jersey Nets
Jay-Z realized an unlikely dream in 2004 by acquiring a percentage of famed NBA franchise the New Jersey Nets. Despite supporting the team from the outset of his ownership bid—he eventually went on to claim a 0.15% stake in the franchise—Jay was instrumental in moving the team to a brand-new Barclays Center stadium in his hometown of Brooklyn, with some help from majority owner Mikhail Prokhorov and real estate developer Bruce Ratner.
In 2012, construction on the stadium was completed and Jay capped off his successful partnership with the team with a string of eight headlining concerts at the just-opened arena, setting the tone for history to be made in Hov’s hometown borough. Since then, Jay has gone on to sell his stake in the team in light of Roc Nation’s foray into sports management (he is not allowed to own a corporation that manages NBA players while owning a part of an NBA team), but seems to have left the organization on good terms.
In a statement about the split, he said, “Being a member of the Nets organization surpassed some of my 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.”