While Brooklyn fans probably loved catching a glimpse of music power couple Jay-Z and Beyonce, it looks like it might not happen again. At least not as owner Jay-Z, but just as a fan. Jay-Z has reportedly sold his share in the team, 0.67 percent, to new head coach Jason Kidd. The irony being that Kidd was the marquee player at the time Jay-Z became interested in becoming an owner. The share sold for somewhere around $500,000.
Jay-Z was forced to sell his share after he decided to go into the sports agency business. It was considered a conflict of interest for him to own a team and handle basketball players, like Kevin Durant, as a RocNation client. Many of the other owners wanted Kidd to own a part of the team so this was just the easiest way to make that happen. Jay-Z was a very active owner for the Nets. He is credited with helping the team move from New Jersey to Brooklyn and designing their new black and white uniforms. The Nets traded for Kevin Garnett and Paul Pierce to make a playoff push this year. I wonder who will get to use Blue Ivy’s $1 million nursery at the Barclays now!
