Jay-Z to Sell Nets
"He had an enormous amount to do with the rebranding of the team. I wasn't close to it at all, but from what I've seen, it would be hard to overstate his importance in this all. I like his involvement in the team; he's at the games, and maybe he's around more than I realize behind the scenes. But he's an excellent fan, one that wasn't just around this year, but a lot in the past too, which is very telling to me."
Nets CEO Brett Yormark would not comment.
Jay-Z's Roc Nation recently partnered with Creative Artist Agency (CAA) and landed New York Yankees second baseman Robinson Cano as his first client.
Source: Jay-Z selling shares of Nets By Mike Mazzeo
Jay-Z's Roc Nation sports agency business, which
recently signed New York Yankees slugger Robinson Cano, has partnered with Creative Artists Agency and hopes to begin representing NBA players in the very near future. There is the possibility Jay-Z's company can begin signing on players for this June's NBA Draft, but Wojnarowski reports that there is not a firm timeline for the cultural icon's departure since he is hoping to leave the Nets on respectful terms.
Wojnarowski reports that other NBA player agents are "anxious" regarding Jay-Z's move into their business. As such a powerful cultural icon, Jay-Z's influence could make an immediate impact with young professional athletes -- it was one reason that he was such an important part of the Nets despite his relatively small piece of the pie.
Source: Jay-Z to sell share of Brooklyn Nets ownership to become NBA agent By Kevin Zimmerman
CAA, which has partnered with Jay-Z’s Roc Nation, already is a leading agency for representing NBA players, highlighted by clients Carmelo Anthony, Chris Paul, Dwyane Wade, Chris Bosh and Tony Parker.
“I would say (Jay-Z) had an enormous amount to do with the re-branding of the team,” Nets coach P.J. Carlesimo said before Tuesday’s game against the 76ers. “I was not close to it at all, but from what I heard and what I read and saw, he was huge — it would be hard to overstate how important he was to the rebranding.
Forbes estimated the Nets are worth $530 million, meaning Jay-Z's tiny share has a value of just over $350,000. He reportedly paid $1 million for his shares in 2003, although that monetary number has been disputed.
Source: Jay-Z to sell his shares of Brooklyn Nets and Barclays Center By Stefan Bondy
