rumor has it that Jay-Z will be selling his Brooklyn Nets stake to
former NBA player, now team head coach Jason Kidd. In 2003, Kidd
convinced Hov to buy a stake in the franchise.
Back in April, Jay forfeited his part ownership of the team after obtaining his NBA agent license and launching Roc Nation Sports.
According to Page Six, he ended up selling that stake which is worth $500,000, which works out to 1/15th of 1% of the team.
While Jay owned a tiny sliver of the Nets,
he was central in the team’s branding once it moved to Brooklyn. He
reportedly helped design the jerseys and the luxury boxes at the
Barclays Center.
This is Kidd’s first coaching job after retiring in June.
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