Watch Jay-Z Make The Official 'Brooklyn Nets' Announcement

As promised, Jay-Z appeared on Fox 5 New York to make the official announcement of the New Jersey Nets move to Brooklyn.

"We've decided that the final name would be the Brooklyn Nets," said the rapper who grew up only minutes away at the Marcy Houses and later at 560 State Street.

He told the news station that he was “giddy” and excited for the NBA franchise’s relocation to his hometown

"It's already created so many jobs... there are lots of vendors," added Jay-Z speaking from the plaza at Atlantic Terminal overlooking the Center.

"I like that. You know what it is, it's deep love. Biggie had a line 'spread love that's the Brooklyn way. It's a deep love we have for our heroes. We walk around with that," said Jay.

Jay will also christen the Nets' new home with a series of eight concerts at the Barclay Center. Concert dates have not yet been announced.