Jay-Z Set to Sell Brooklyn Nets Stake

April 10, 2013

Rap tycoon, Jay Z is set to sell his stake in NBA’s Brooklyn Nets as he looks to push his career as a sports agent to new heights according to reports.

Jay-Z, who recently acquired Robinson Cano as a client in partnership with Creative Artists Agency, has begun the process of obtaining his National Basketball Players Association certification as an agent, reports Yahoo!, which would require him to relinquish ownership of the Nets.

ESPN’s Darren Rovell tweeted that Jay-Z’s .067 percent (1/15th of a percent) stake in the Nets is worth approximately $350,000, and he could sell it tomorrow if he wanted to. 

“It would be disappointing [if he left],” Nets interim coach P.J. Carlesimo said. “I’d be disappointed. 

“He had an enormous amount to do with the rebranding of the team. I wasn’t close to it at all, but from what I’ve seen, it would be hard to overstate his importance in this all. I like his involvement in the team; he’s at the games, and maybe he’s around more than I realize behind the scenes. But he’s an excellent fan, one that wasn’t just around this year, but a lot in the past too, which is very telling to me.” 

Jay-Z’s Roc Nation recently partnered with Creative Artist Agency (CAA) and landed New York Yankees second baseman Robinson Cano as his first client.

Forbes estimated the Nets are worth $530 million. 

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