Jay Z to Sell Brooklyn Nets Stake to Jason Kidd
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Shawn “Jay Z” Carter is selling his minority ownership in the Brooklyn Nets to the team’s new head coach, Jason Kidd, sources told the New York Post.
Kidd will take over Jay Z’s .067 percent (1/15th of a percent) stake in the Nets for $500,000, according to reports.
Jay’s departure from the Nets was bittersweet as he was a strong force behind re-branding the team. The entertainment mogul was forced to sell his share to move forward as an NBA sports agent through his new company Roc Nation Sports.
No individual can have ownership in an NBA team and be affiliated with a player representation company, according to NBA rules.
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ABOUT: Nana Kwesi Coomson
[email protected] An Entrepreneur, Corporate Social Responsibility, Corporate Communications Executive and Philanthropist. Editor-in-Chief of www.233times.com. A Senior Journalist with Ghanaian Chronicle Newspaper. An alumnus of Adisadel College where he read General Arts. His first degree is in Bachelor of Arts - Political Science (major) and History (minor) from the University of Ghana. He holds MSc in Corporate Social Responsibility (CSR) and Energy with Public Relations (PR) from the Robert Gordon University in the United Kingdom. He is a 2018 Mandela Washington Fellow who studied at Clark Atlanta University in USA on the Business and Entrepreneurship track.
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