Jay-Z Selling Nets Stake?
He’s not a businessman, he’s a business, man – but he’s going to have to drop at least one investment from his portfolio.
Yahoo! Sports’ Adrian Wojnarowski said today that Jay will have to divest his share of the Brooklyn Nets in order to move forward on his plan to become an NBA agent. His Roc Nation Sports group is looking to represent basketball players, but Jay has a conflict of interest that is not allowed by NBA rules.
Although he’s been a huge part of their public image, it’s thought that Jay-Z owns less than 1% of the team, and surely someone will snap it up. But his frequent courtside appearances and stylistic input will most likely have to stop, at least in the interim.
Roc Nation is partnering with super agency CAA to rep athletes, starting with the New York Yankees’ star second baseman Robinson Cano. No telling which NBA player will be first to sign with the Roc, but if Kanye West has anything to do with it, it probably won’t be Nets forward Kris Humphries.