Jay Z Sells His Shares Of The Brooklyn Nets to Jason Kidd
It was reported earlier this year that Jay Z was being forced to sell his 0.067 share of the NBA's Brooklyn Nets in part because of the potential conflict of interest that his new Roc Nation Sports Agency would have in representing NBA players in the league.
The New York Post is reporting this morning that Jay Z has found a buyer and he will be allegedly selling his share of the team to new Brooklyn Nets coach, Jason Kidd. According to the Post's sources, Jay Z was asked to sell his shares of the team by some of the others Nets owner as favor.
A source told the Post, “Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.”
Interestingly enough, Hov was introduced to team in 2003 by Drew Katz, one of the son's of the Nets principal three owners, after being recommended to purchase the team by then New Jersey Net star point guard, Jason Kidd.
Despite his small share, Jay Z has been widely credited as being highly influential in bringing the Nets to Brooklyn from their 35-year home in New Jersey. According to reports, Hov helped personally design the team's new uniforms and logos to coincide with the switch in location last year.
[Via New York Post]