Jay-Z looking to divest ownership share of Nets

[Brady-Carter]

Entertainment mogul and rapper Jay-Z has started the process of divesting his small share of ownership with the Brooklyn Nets to extend his Roc Nation Sports representation business into basketball, sources told Yahoo! Sports.

The process is expected to be completed in time for Roc Nation to compete for players entering the June NBA draft, but there's no guarantee of the timing, sources said. Those within Roc Nation and the CAA alliance aren't "chasing a clock on this," one source said. "This isn't about one draft, but taking the long view of the business."

Much like the arrangement with CAA's baseball side, Jay-Z will let the firm's basketball agents handle contract negotiations and day-to-day business with athletes. The potential impact will come with athletes linking to Jay-Z's global reach in marketing, entertainment and business.

Y! SPORTS

 

[kingofnyc]

might as well, bounce
should have never allowed billy king to be our GM


joe johnson, gerald wallace & kris hump = an avg nikka & 2 bums making 42 million a yr

 

[madness]

@"starting the process." he owns like $10 worth. just write "i quit" on a napkin.

 

[DStyles]

Why don't you buy his share if he only owns $10 then

cacs

 

[N*IT*2*WIN*IT]

0.67%

Word is its worth about $350k

 

[DStyles]

@madness

"enjoy this neg rep, u black crackbaby"




I love when I get neg feedback, some of the comments they leave have me :deadware:

 

[Bernie Madoff]

I hate to gossip about another persons money... Jay z probably never cared about the money from the small % of ownership from the nets.. Most likely just another vehicle to drive his brand.. He used it to the max, got some sold out concerts ect.. Now on to the next one

 

[GreatestLaker]

0.67%

Word is its worth about $350k

Who the fukk is that in your avy?

 

[Brady-Carter]

0.67%

Word is its worth about $350k

Yup..

How much would his stake be worth? At the Forbes projected value of $530 million, Jay-Z's stake would be worth about $355,000, which according to some reports is a third of what he paid for it back in 2003. It is unclear if he will have to sell his similarly sized stake in Barclays Center, on whose board he sits. The team and arena entities are closely intertwined.

JAY-Z SELLING OUT OF BROOKLYN NETS - NetsDaily

 

[gho3st]

so basically JayZ's roc nation is a front for CAA to get even more clients???

 

[Brady-Carter]

[ame]https://twitter.com/darrenrovell/status/321754502367682562[/ame]

 

[jfkennedy]

@"starting the process." he owns like $10 worth. just write "i quit" on a napkin.

 

[Black White Sox Hat]

Here's your dollar back.

 

[Brady-Carter]

so basically JayZ's roc nation is a front for CAA to get even more clients???

I would assume CAA's willingness to partner with RocNation, is to gain more clients.

And from the RocNation side it would be to expand the management side of the company, to athletes.

 

[Ronnie Lott]

I hate to gossip about another persons money... Jay z probably never cared about the money from the small % of ownership from the nets.. Most likely just another vehicle to drive his brand.. He used it to the max, got some sold out concerts ect.. Now on to the next one

^^^^^this. But this thread will quickly turn into how Lame Jay is and how Nas won I can't knock anybody for ownin any percentage of a pro sports team. How can anybody try to call that some sort of L?

(Waits for responses)