Jay-Z has been a big supporter of the Brooklyn Nets, investing millions of dollars to own the team and even building an arena in Brooklyn, the extravagant Barclay’s Center, where they could play. Now he’s given up his stake in the Nets in order to focus on bigger matters: his own sports agency. He announced the news on his website with the following statement:
Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.
The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.
God, Jay-Z is rich – rich enough to buy his own island! – and his pile of cash is only going to stack even higher with Roc Nation Sports. Gotta hand it to him for being a smart business man, I suppose.
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He didn’t own shit. He owned roughly 1% of the team. I CAN NOT stand this monkey. He thinks he’s king shit