Jay-Z is Reportedly Divesting His Share of the Brooklyn Nets and Becoming an NBA Agent

by April 09, 2013

We knew there was a possibility of this back when we found out Roc Nation Sports was becoming a thing, but now it looks a little more likely that Jay-Z is actually going to ditch his share of the Brookyln Nets so he can become an NBA agent. Via Yahoo! Sports: “Entertainment mogul and rapper Jay-Z has started the process of divesting his small share of ownership with the Brooklyn Nets to extend his Roc Nation Sports representation business into basketball, sources told Yahoo! Sports. Jay-Z – whose real name is Shawn Carter – owns less than 1 percent of the Nets, but has been a central public figure in the franchise’s marketing and move from New Jersey to Brooklyn. Selling his share of the Nets is a necessary prelude for Jay-Z to obtain his National Basketball Players Association certification as an agent. NBA rules mandate that no one individual affiliated with a player representation company can have an ownership stake with an NBA team. … The process is expected to be completed in time for Roc Nation to compete for players entering the June NBA draft, but there’s no guarantee of the timing, sources said. Those within Roc Nation and the CAA alliance aren’t ‘chasing a clock on this,’ one source said. ‘This isn’t about one draft, but taking the long view of the business.'”