Wednesday, September 4th, 2013 at 9:15 am  |  12 responses

Jay Z Reportedly Sold Brooklyn Nets Stake to Jason Kidd

The Jigga Man walked away from his minority ownership stake in the Brooklyn Nets, and now the rap mogul’s share in the team belongs to new head coach Jason Kidd. Reports the NY Post: “We’re told Kidd will take over Jay’s .067 percent (1/15th of a percent) stake in the team for about $500,000. The move comes as Jay was forced to sell his Nets shares over a conflict of interest after he started a sports agency, Roc Nation, signing clients including Yankee Robinson Cano and Oklahoma City star Kevin Durant. A source told us, ‘Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.’ 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.”

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  • sammyb96

    But what happens if Kidd doesn’t work out as a coach in bk? I know that he doesn’t have the authority on this, but it would be funny to see him fire himself

  • Ugh

    With a .067% share in the team I expect he’ll have as much of a voice in firing as a member of the ticket buying public does.

  • Love The Game

    Lol. You figure he will write himself a letter and have a face to face meeting in his bathroom mirror? Too far? Ok.

  • LLC#12

    If you had done a poll, asking people what they thought Jay-Z’s stake was, some people would have thought it was like 50% with Prokhorov. I don’t think such a minority owner has ever had such a significant say in anything ever.

  • Dfrance

    I don’t think Jay Z has much say in anything as far as how the team is run. Prokhorov just knew his influence in BK and used to that gain fan support for the team.

  • http://www.offthebackboard.wordpress.com/ Off The Backboard

    Always thought it was funny that Jay-Z bragged in raps about being a owner while owning so very little of the team in reality. But hey, it sold records, and it definitely sold tickets so kudos to him.

  • straight cake

    Jalen Rose knows what’s up:


  • http://soundcloud.com/tray-8 T-Ray

    “Scott Boras, you over baby
    Robinson Cano, you coming with me
    These n***as is like rotary phones
    It’s a new day, hit up KD”

  • spit hot fiyah

    is this even legal according to nba standards?

  • TheRealness

    Living off his wife money and don’t even own the team like he say.. I’m happy Nas ain’t bragging like this dude is

  • Pedestrian Nightmare

    why the hell not?

  • Irishway’s

    $500,000 seems like a low number considering all the hype and sponsers Jay brought in, What i want to Know is how much Jay bought the stake for, bet he got the Russian shaft.