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.