Jay-Z to Sell Half his ownership in the Nets To

Jason Kidd.

Don't even THINK about messing with the coach on that team, he's also an owner now.


bob



.

The Nets certainly have some interesting story lines heading into the coming season.

Sounds like the percentage is pretty small, as is Jay Z's original purchase.  I was surprised by just how small in the article pasted below.

Despite the diminutive interest, it's probably a good PR move to be able to say Kidd has an ownership interest too.

From Ball Don't Lie -


According to the source, Jay Z controlled 0.1608 percent of the Nets, or roughly 1/6 of 1 percent through Nets Sports and Entertainment (not 1/15th of one percent, as reported by the Times last year and the Post Wednesday.) [...] Jay Z, whose name is Shawn Carter, suggested during his opening night concert at Barclays Center that the real number was higher than what the Times' David Halbfinger had reported. He has never revealed the specific number.


The source said that Jay Z had originally planned to sell half his shares to another suitor, but that Kidd asked he sell the stake to him. The transaction would close the circle for Jay Z and J-Kidd. It was Kidd who reportedly was the first to suggest that Jay Z buy into the Nets 10 years ago. That conversation took place at Kidd's 30th birthday party, held at Jay Z's 40/40 Club in Manhattan, according to reports. Not long after, Jay Z met with Bruce Ratner. There are conflicting accounts as to how much Jay Z paid initially with one report suggesting $100,000, another $400,000.


As for a potential conflict, the source said there is none, that coaches can own part of a team. Players cannot.

Kidd is really "taking ownership" over his responsibilities.


KJ