Jay Z Selling His Nets Minority Ownership To Jason Kidd

Views 3,446

Jay Z has been the unofficial face of the Nets since becoming a minority owner, he played a vital role in moving the team from New Jersey to Brooklyn and developing the Barclays Center.  Now setting his sights on his Roc Nation sports agency, Jigga had to relinquish his team ownership as it was a conflict of interest if he were to sign NBA players – as he did with Kevin Durant

Reports are that he is selling his .067 of a percent to the Nets new head coach Jason Kidd.  The league does not view owning and coaching as a conflict of interest, so the future Hall Of Famer is able to make the transaction. 


Jay Z is selling his minority ownership in the Brookyn Nets to coach Jason Kidd, sources exclusively tell Page Six.

We’re told Kidd will take over Jay’s .067 percent (1/15th of a percent) stake in the team for about $500,000. [...]

An interesting caveat, is that it was Jason Kidd who first suggested the Nets contact Hova about being involved with the team. 


Amazingly, Jay was introduced to the team in 2003 by Drew Katz, the son of one of the Nets’ principal owners, after Kidd, then the Nets’ marquee point guard, suggested the music mogul buy the team.


You may also like


Wire news

Warriors sign Justin Holiday 8 Sep 2014 at 6:25pm
Kings waive F/C Tyler 6 Sep 2014 at 6:30pm
Kings waive Ellington 3 Sep 2014 at 6:08pm
C James signs with Mavs 3 Sep 2014 at 6:00pm
Jazz, SG Murphy reunite 26 Aug 2014 at 2:00pm
F Scott lands new deal with Hawks 26 Aug 2014 at 12:00pm
Lakers sign G Clarkson 25 Aug 2014 at 10:00pm
Auburn lands top JC guard 25 Aug 2014 at 10:33am
Reports: Love deal finally done 23 Aug 2014 at 2:08pm