Jay-Z is reportedly selling his shares in the Brooklyn Nets in order to clear the way for Roc Nation to begin representing athletes, according to Yahoo! Sports.
Jay already only owned less than 1 percent of the team, but was heavily involved in both marketing and the team's move from New Jersey to Brooklyn. NBA rules require that, in order to represent athletes, agents can't have a stake in the ownership of NBA teams.
Yahoo! also reports that Roc Nation recently joined with Creative Artists Agency (CAA) to launch a sports representation business, and that they "recently secured New York Yankees star Robinson Cano."
Yahoo! also reports:
Rival agents are anxious over the possibilities of Jay-Z on the recruiting trail, believing the lure of his iconic business and cultural standing will have a major impact on attracting top prospects and current league stars.
Jay and Roc Nation have been making major moves of late; they were also in the news recently because the rapper and his company signed a distribution deal with Universal Music Group.