Jay-Z Selling His Stake In Brooklyn Nets To Become An NBA Agent
Rapper/entrepreneur Jay-Z is selling his ownership share of the Brooklyn Nets so that he can add "basketball player agent" to his always-growing list of occupations.
Last week, Jay-Z signed Victor Cruz of the New York Giants and Robinson Cano of the New York Yankees to be part of his fledgling Roc Nation Sports agency. Securing an NBA talent is apparently next on his list.
To add NBA players to Roc Nation, Jay-Z must give up his ownership in the Nets because conflict-of-interest rules prevent licensed NBPA agents from having an ownership stake in any team. The entertainment and business mogul is likely to present a powerful lure for current and future NBA players who are already very familiar with his music and entrepreneurial exploits. And, they probably get to hang with Jay and Beyonce for at least one dinner, so there's that.
Despite not having anywhere near a controlling interest in the Nets, Jay-Z leaves behind a legacy of helping establish the team in Brooklyn, designing their sleek black uniforms and opening the new Barclays Center. The Nets may be sad to see Jay-Z go, but they may regret it even more during their first negotiation with one of his clients.
"If you're havin' salary cap problems, I feel bad for you, son..."