Jay-Z selling his 'minuscule stake in the Brooklyn Nets'
“After Jay-Z announced the launch of Roc Nation Sports, a new arm of his Roc Nation entertainment company, last week, Yahoo! reports that he’s has begun the process of selling his minuscule stake in the Brooklyn Nets. Per NBA rules, no one representing an NBA player can have an ownership share in an NBA team. It’s expected, but not certain, that Jay will cut ties with the Nets before June’s NBA draft. “This isn’t about one draft, but taking the long view of the business,” an unnamed source told Yahoo!. [FADER]
Jay-Z also recently made changes to Roc Nation Music, and announced another year of his Philly festival.
In related news, Phoenix recently announced a show at Barclays Center where MTV is hosting this year’s VMAs and where Green Day and Best Coast just played.
