Jay Z Set To Sell His Stake In Brooklyn Nets To Jason Kidd

posted Wednesday September 04 ,2013 at 02:40PM CDT | 30 comments

Jay Z Set To Sell His Stake In Brooklyn Nets To Jason Kidd

Jay Z is reportedly going to sell his stake in the Brooklyn Nets to Jason Kidd, the team's head coach and one of its former players.

Jay Z is set to sell his remaining ownership stake in the Brooklyn Nets to Jason Kidd, the team’s head coach and one of its former players, according to a cbssports.com story. The Brooklyn rapper’s total stake in the team was reportedly $500,000 and represented one-sixth of 1 percent ownership of the team, as per an espn.com story. The NBA must approve the proposed transaction between Jay Z and Kidd. Jay Z had already sold the other portion of his Nets ownership to an existing minority owner of the team, as per cbssports.com.

Jay Z also owns the Roc Nation Sports agency, which may be why he’s selling his stake in the Nets. NBA rules do not allow players and-or agents to own part of a team. There is no rule against coaches owning a portion of a team, according to the ESPN.com story.

In June, Roc Nation Sports signed Kevin Durant to its roster. Durant, a forward for the Oklahoma City Thunder, was the first NBA player to sign to Roc Nation Sports. “Grateful for this opportunity with Roc Nation Sports," Kevin Durant wrote on his Instagram account in June. "It’s go time.”

New York Jets quarterback Geno SmithNew York Yankees second baseman Robinson Cano and Tulsa Shock guard Skylar Diggins are also signed to Jay-Z's sports agency. The Shock is an WNBA franchise.  

Kidd played for the then-New Jersey Nets from 2001-2008 and won an NBA championship as a member of the 2011 Dallas Mavericks. Kidd also reportedly suggested that Jay Z buy into the Nets 10 years ago, according to netsdaily.com.

RELATED: Jay-Z's Roc Nation Sports Signs Kevin Durant

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Comments 30 Posts

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  • Kno Boddy
    1 sixth of his 1 percent is going for $500,000 so he had a 3 million dollar share unless he bought it for more/less. A lot of money to you and me.
  • sxxx9
    http://www.youtube.com/watch?v=gWvSwaC4Kg8
  • sxxx9
    http://www.youtube.com/watch?v=O9ZcZpk7SdA
  • dAMAU
    "The Shock is an WNBA franchise" LMFAO
  • MegaDon
    No more parking at his own arena. Wouldn't be surprised if he has season Knick tickets already.
    • Hate
      Really if you buy your own bullshit better keep your own receipt... Because he still park at his own arena because he still has shares in the building which is part of the arena.. So fuck off lame fool
    • MegaDon
      Lol, you fell for the bait. Typical dick rider that believes Jay owns the arena. Owning .00000001% doesn't equate to him owning the building. People like you believe Jay though cuz he said it in some songs.
  • Anonymous
    I bought a couple shares of the nets today. I might give them to my aunt for Christmas...ill see. www.eminemalbum2014.com
  • Anonymous
    Only 11 comments? I remember when you weirdos would flood the comments saying Jay owns the Nets, he bought the team to his hometown Brooklyn, telling the people who knew the real deal they were haters. But it was you who were the fool all along.
    • @anon
      What have your father bought and what have you even owned?
    • Lame anon
      Can your family cough of 10m? Guess you're a ymcmb Youngin... Dont just come here and say shit tell your crews to step out with all they got. Foolish you! Numbers don't lie check the score board. Hov is on some TF shit so get lost
    • Jay23
      Jay said best you make 1% of a billion and you people act like that is a everyday thing. You buy 1% or 100% of a team it is still saying something. Who care if it is not a higher percentage.....CAN YOU DO IT???
  • Wolfman
    Other rappers make headlines about getting pinched or dumb shit. Hov is in the paper everyday on some Mafiaso boss shit.
    • La fam
      Triple fuckin' OG What's up to my nigga Juan Tell these niggaas pull their fuckin' skirt down I could see their ovaries Niggas snitching switching teams Out there telling bitches things Industry talk behind your back Ain't nobody got time for that Facts only Everything real in my raps only Every nigga real in my clique really Even the girls keep it two hundred and trilly It's la familia
  • Anonymous
    Dang only $500k. Checkout thegrandreport, they got some good hip hop videos on there
  • heart
    my Aunty Brooke just got a nice six-month old Cadillac SRX by parttime working online from home. moved here.... jazz77.com
  • Anonymous
    $500k is chump change to Hov.
    • Anonymous
      $500,000 is chump change to real owners. thought he actually had a big part of the team
    • The Decatur ATL BOI
      Welp, it's more than you will ever see so I guess there is no room for judging...that is unless you can fork over 500K? 400K? Do you have 100K? Oh, how about 75K, you got that right now? Hell naw, so be very quiet and take several seats. Do you have $20k?
    • Jay23
      Owners was happy to have Jay in the process of getting the team to Brooklyn. Without his backing of the team be clear BK NETS would not have been has popular. You go in and you see his face in the building. He designed the logo, you can say what you won't on the ownership, but he made bread off of everything else.
  • Martha J. Taylor
    what Ruth answered I'm shocked that a student can profit $8518 in one month on the internet. more helpful hints... www.cafe44.com What you want him to say about his album. Yeah it's ok ...... of course he's going to say it's the best. And he is good so i expect a good album. Everybody looking for a classic. Me i don't care just make an album ppl can listen too!
  • heart
    my Aunty Brooke just got a nice six-month old Cadillac SRX by parttime working online from home. moved here jazz77com
  • DeezNutz22
    Like your broke azz could afford it...gtfoh
  • WHAT?
    he should sell it to me instead
    • DeezNutz22
      Like your broke azz could afford it...gtfohwtbs
    • COCA
      FOR REAL!! I CAN GET A 500K LOAN TO BUY THAT SHIT!!