Jay Z Reportedly Sold Brooklyn Nets Stake to Jason Kidd

by September 04, 2013

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.”