Jay-Z reportedly selling his Brooklyn Nets share (.067%) to J-Kidd
Jay-Z was rumored to be upset when the New York Times did a great piece on Jay talking about how successful he is as a businessman and how well he’s capitalized off his $1 million investment in the Nets. The article pointed out that Jay’s investment gives him less than 1% ownership in the team. That less than 1% is actually .067 percent (1/15th of a percent) and Jay is reportedly selling it to Nets coach Jason Kidd for half a million dollars. Jay had to sell his share after starting his Roc Nation sports agency.
From the New York Post,
Jay was introduced to the team in 2003 byDrew 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.
According to reports, Jay helped design the team logos and choose the Nets’ stark black-and-white color scheme, and personally appealed to National Basketball Association officials to drop their objections to it.
The Times reported Jay’s influence stretched so far, he courted top players to join the team and even counseled execs on music to play during games.
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