Is Jay-Z Selling His Part Of The Brooklyn Nets?
Jay-Z got 99 problems, but worrying about the Brooklyn Nets ain’t one.
HoopsVibe’s Very Quick Call: Jay-Z’s one of the smartest business men around, so what does that tell you about the value of the Brooklyn Nets?
The official word coming out of Jay-Z’s Roc Nation and reported by Yahoo Sports is that Shawn Carter (a.k.a. Jay -Z) will be selling is 1 percent stake in the Brooklyn Nets.
It doesn’t appear Jay-Z is abandoning the Nets because they’ve under-performed, at least not entirely. Jay-Z wants to expand the Roc Nation brand to represent athletes. He is reported to already have deals in place with New York Giant Victor Cruz and New York Yankee Robinson Cano.
The reason he doesn’t have any basketball players on his roster of athletes is you can’t own stock in an NBA team and be their agent too. Jay-Z will solve this problem by dropping his ownership stake in the Nets and focus on his talent representation.
The appeal of have Roc Nation represent them could be strong. Jay-Z is a perfect example of someone that made something from nothing, plus is connections in urban marketing are about as expansive as humanly possible. It could be a very savvy business move for some young athletes to sign with Jay-Z if he proves capable of improving their branding.