Jay Z to Sell Brooklyn Nets Stake to Head Coach Jason Kidd
In April, Jay Z had to give up his .067 percent ownership of the Brooklyn Nets because of a conflict of interest with his then-burgeoning career as a sports agent. His new venture seems pretty successful thus far, as he's signed talents like Skylar Diggins, Kevin Durant and Robinson Cano to his brand, Roc Nation Sports. The real question was who was that minuscule amount of ownership going to.
The answer is Jason Kidd apparently. New York Post's Page Six reports the new Brooklyn Nets Coach will take over Jay Z's approximately $500,000 worth of ownership.
Kidd took over as head coach soon after announcing his retirement after a 19-year career. His accomplishments as a point guard -- including one NBA championship with the Dallas Mavericks in 2011 -- make him a future Hall of Famer in the eyes of many. Kidd spent a few of his best ones as a Net throughout most of last decade.
The Nets made a drastic improvement from last season and made the playoffs for the first time in five years, but lost in the first round to a Derrick Rose-less Chicago Bulls.
Although he didn't own much, Jay Z was essential to the Nets' branding image. He helped choose the team's black-and-white color scheme -- which prompted an extremely controversial opinion piece by none other than the New York Post. The 'Magna Carta Holy Grail' artist personally appealed to the NBA to drop its objections to the colors as well.