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

Jason 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.