Jay-Z selling stake in Brooklyn Nets

Jay-Z selling stake in Brooklyn Nets

Posted: Updated:

By BRIAN MAHONEY | AP Basketball Writer

NEW YORK (AP) -- The Brooklyn Nets are losing one of their biggest names as they prepare for the playoffs.

Jay-Z owned just a little piece of the team, but was a large presence when the franchise changed homes and identities this season.

The rap mogul is selling his stake in the Nets so he can become certified as a player agent, possibly before the end of the season. The process is underway, with paperwork already filed, a person with knowledge of the details said Wednesday.

NBA rules prevent anyone from being involved in ownership and player representation.

Yahoo Sports, which first reported Jay-Z's plans, said his Roc Nation company has partnered with Creative Artists Agency (CAA) and hopes to compete for players in this June's NBA draft.

Jay-Z owns less than 1 percent of the Nets, but has had a major impact with the franchise's move to his hometown. He had input and in some cases complete control of everything from the interior of the $1 billion Barclays Center to the design of the team's black-and-white uniforms, which he debuted himself during his run of eight sold-out concerts in September that served as the debut of the arena.

A spokesman for Jay-Z, whose real name is Shawn Carter, did not respond to a message.

Friendly with LeBron James and a number of sports superstars, Jay-Z could quickly make Roc Nation a force in the agency field. The company recently signed New York Yankees All-Star Robinson Cano. The Nets hoped his reputation and friendships would help them three years ago when James led a loaded field of free agents, but the Nets, then playing in Newark, failed to land any of them.

Jay-Z attended only a handful of games this season, but his affiliation with the franchise provided a necessary buzz for its first season in Brooklyn. He sat in his courtside seat next to wife Beyonce in November when the Nets beat the Knicks in their first matchup as New York rivals, providing the trash talk afterward when he tweeted that the city was under new management.

The Nets have clinched their first playoff berth since 2007 and are in position to have home-court advantage in their first-round series.

  • Brooklyn NewsBrooklyn NewsMore>>

  • Brooklyn man charged in shooting that wounded teen bystander

    Brooklyn man charged in shooting that wounded teen bystander

    Friday, April 18 2014 7:35 PM EDT2014-04-18 23:35:59 GMT
    The NYPD has arrested and charged a suspect in the shooting of a teenaged bystander as well as another man in Brooklyn. Police on Friday charged Kareem Potomont, 21, with two counts of attempted murder, assault, criminal possession of a weapon, criminal use of a firearm, and reckless endangerment in connection with the shooting that took place near a bus stop on Flatbush Avenue on Monday, April 14.
    The NYPD has arrested and charged a suspect in the shooting of a teenaged bystander as well as another man in Brooklyn. Police on Friday charged Kareem Potomont, 21, with two counts of attempted murder, assault, criminal possession of a weapon, criminal use of a firearm, and reckless endangerment in connection with the shooting that took place near a bus stop on Flatbush Avenue on Monday, April 14.
  • Christians around world mark Good Friday

    Christians around world mark Good Friday

    Friday, April 18 2014 1:34 PM EDT2014-04-18 17:34:50 GMT
    From the Holy Land to the streets of New York City, Christians have commemorated the crucifixion of Jesus Christ in Good Friday prayers and processions. Thousands of Christian pilgrims filled the cobblestone alleyways of the Old City on Friday along the Via Dolorosa, Latin for the "Way of Suffering." In NYC, Timothy Cardinal Dolan and Bishop Nicholas DiMarzio lead followers across the Brooklyn Bridge.
    From the Holy Land to the streets of New York City, Christians have commemorated the crucifixion of Jesus Christ in Good Friday prayers and processions. Thousands of Christian pilgrims filled the cobblestone alleyways of the Old City on Friday along the Via Dolorosa, Latin for the "Way of Suffering." In NYC, Timothy Cardinal Dolan and Bishop Nicholas DiMarzio lead followers across the Brooklyn Bridge.
  • Wineries flourish in Brooklyn

    Wineries flourish in Brooklyn

    Thursday, April 17 2014 10:34 PM EDT2014-04-18 02:34:04 GMT
    Hundreds of oak barrels of wine are all stacked in one room. You might think this is Napa, California. But it's not. It's the Brooklyn Winery, located in what was once an old pickle factory in Williamsburg. Refrigerated grapes are brought in from the North Fork of Long Island and from the Finger Lakes and then aged in barrels. These days urban wineries are becoming more popular, and they're popping up all over the borough.
    Hundreds of oak barrels of wine are all stacked in one room. You might think this is Napa, California. But it's not. It's the Brooklyn Winery, located in what was once an old pickle factory in Williamsburg. Refrigerated grapes are brought in from the North Fork of Long Island and from the Finger Lakes and then aged in barrels. These days urban wineries are becoming more popular, and they're popping up all over the borough.
Powered by WorldNow

4739 NW 53rd Avenue, Sutie B
Gainesville, FL 32653

Phone: (352) 371-0051

Didn't find what you were looking for?
All content © Copyright 2000 - 2014 Fox Television Stations, Inc. and Worldnow. All Rights Reserved.
Privacy Policy | Terms of Service | Ad Choices