Jay Z Selling His Stake In Nets To Jason Kidd
Jason Kidd is the new coach of the Brooklyn Nets, and thanks to Jay Z, Kidd is now also part owner.
The New York Post is reporting that Jay Z sold his stake in the Nets to Kidd for $500,000. Jay-Z, who has broken into the world of sports agency, owned 1/15th of a percent of the team.
The move was reportedly pushed for by the team’s other owners.
“Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.”
The Post is reporting that it was Kidd who helped convince Jay-Z to become involved with the Nets in 2003 while Kidd was still a point guard on the team.
Jay Z of course has started Roc Nation Sports, and can not be an owner while running a sports agency.