Jay-Z invests a whole lot more than $1 million in Brooklyn Nets

Da_Eggman

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The man who takes his name from the train that cuts through the heart of Brooklyn owns one fifteenth of one percent of the borough’s new professional basketball team, the Brooklyn Nets. But based on what we read in today’s New York Times, in his heart and his mind, he owns the entire team.

Upstart entrepreneur and hip-hop artist, Shawn Carter, aka, Jay-Z (the J and Z trains are two that serve the Brooklyn borough) once lived in Marcy Houses, a government project not far from the Nets’ soon to-be-opened Barclays’ Arena. He grew up slinging drugs and writing rhymes that one day would make him into what the Times called “one of the most successful rap artists of all time.

When developer Bruce Ratner recruited Jay-Z, worth an estimated $38 million, to invest in the team, the 42-year-old tossed a cool $1 million into the pot—by most standards an inconsequential percentage of the team Ratner’s group paid $300 million to acquire, later selling an 80 percent stake to Russian billionaire Mikhail Prokhorov for $260 million.

Jay-Z and his wife Beyonce, the highest paid celebrity couple, according to Forbes, earning $78 million last year, still call the borough home. The Times today reported of the rapper:

He helped design the team logos and choose the team’s stark black-and-white color scheme, and personally appealed to National Basketball Association officials to drop their objections to it. He counseled arena executives on what kind of music to play during games. (“Less Jersey,” he urged, pushing niche artists like Santigold over old favorites like Bon Jovi.)

The report went on to say that Jay-Z sits beside Ratner at the board meetings, fights to recruit stars he believes in, like Lebron James, and during a recent cold stretch by the team’s former forward, Vince Carter, the music mogul even coached him out of the slump. And when "Z" noticed the Nets’ logo was getting cut off by the ticker at the bottom of the television screen, he called the team’s chief executive to have it fixed, which it was.
Carter’s love for his birthplace and the work he is putting into the company are redefining how a celebrity owner might leverage his or her brand power to the benefit of the team.

But by no means is he the first to do so
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:mindblown: 1mill and he's getting that much say :wtb:
 
Mook

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Ed MOTHERfukkING G said:
How much did you invest in the miami heat?
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article is bullshyt. lol at taking credit for a simple as logo. lol at the thought of anyone having to fight to acquire the best player in the game.

hire a new pr firm with better spin skills mr.Knowles :dead:

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The Jewnited States

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And when "Z" noticed the Nets’ logo was getting cut off by the ticker at the bottom of the television screen, he called the team’s chief executive to have it fixed, which it was.



damn jay-z stays on top of things

(don't even ask me how)
 
23Barrettcity

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The Jewnited States said:
And when "Z" noticed the Nets’ logo was getting cut off by the ticker at the bottom of the television screen, he called the team’s chief executive to have it fixed, which it was.



damn jay-z stays on top of things

(don't even ask me how)
Click to expand...

Camels don't forget :scusthov:
 
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