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Jay-Z plans to sell ownership share of Brooklyn Nets

on April 09, 2013, 6:07pm

 Jay Z plans to sell ownership share of Brooklyn Nets

According to Yahoo! Sports, Jay-Z will concede his minority ownership of the Brooklyn Nets so that his new agency group, Roc Nation Sports, can begin representing NBA players.

Although he owns less than one percent of the Nets, Jay-Z was a driving force behind the franchise’s move to Brooklyn. He also helped redesign the team’s jerseys and opened their new Barclays Center with a string of eight sold-out concerts.

However, as Yahoo! adds, “NBA rules mandate that no one individual affiliated with a player representation company can have an ownership stake with an NBA team.” So sorry, Kanye, but Jay can no longer drop him from the team.

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