It is a testament to Jay Z’s business savvy that he turned a small ownership stake in the Nets into this global enterprise he is now running. It is something other rappers haven’t been able to do with their ownership stakes in teams.
Since, Hov is a full time sports agent now, he had to get rid of shares in the Nets and look who he sold them to according to Next Impulse Sports.
Jay-Z is no longer a minority owner of the Brooklyn Nets after having sold his .067% (1/15th of a percent) stake in the team to new Nets coach Jason Kidd for about $500,000.
Kidd is no longer just the coach, but also a minority owner.