Jay Z is reportedly getting ready to give up his small stake in the Brooklyn Nets. Because he's now running the Roc Nation Sports agency and looking to represent NBA players (he's already signed Kevin Durant and is looking to sign other players in the future, too), he needs to sell off the .067 percent stake that he currently has in the Nets. And it sounds like he's getting ready to do it soon.
But don't worry, Nets fans. It appears as though you'll be trading one celebrity owner for another, as the New York Post is reporting that Jay's shares will likely be sold to none other than Nets head coach Jason Kidd. Nothing is official just yet. But several sources spoke to the Post and indicated that Kidd will take over Jay's stake in the team sometime in the near future for $500,000. It's what other Nets owners reportedly want to see happen.
"Other owners want to give Jason a part ownership of the team," one source told the Post, "and urged Jay to sell his shares to him."
Stay tuned to see if the sale actually goes through. If it does, do you like the idea of Jason Kidd owning a piece of the team that he coaches?
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[via New York Post]