Jay Z Selling His Stake In Nets To Jason Kidd

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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.

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