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Saturday, October 25, 2014

Jay-Z reportedly selling his stake in Brooklyn Nets to Jason Kidd

Jay-Z-Jason-KiddJason Kidd is the new head coach of the Brooklyn Nets and spent more than six seasons with the team as a player. Now, he is reportedly taking his investment in the team to the next level.

According to the NY Post’s Page Six, Jay-Z is selling his minority ownership stake in the Nets to Kidd for roughly $500,000. Jay-Z, who has broken into the world of sports agency, owned 1/15th of a percent of the team. The move was reportedly pushed for by the team’s other owners.

“Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him,” a source reportedly told Page Six.

Interestingly enough, the Post also noted that it was Kidd who helped convince Jay-Z to become involved with the Nets in 2003 when Kidd was a star point guard for the then-New Jersey Nets. Now that Roc Nation is looking to represent professional sports stars like Robinson Cano and Kevin Durant — and even a certain college superstar — the relationship between Jay-Z and Kidd has seemingly come full circle.

UPDATE: According to NetsDaily, Jay-Z is selling half of his shares to Kidd and the other half to one of the Nets’s current minority owners.



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