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Reports: Jay Z Selling Nets Shares To Jason Kidd

Illustration for article titled Reports: Jay Z Selling Nets Shares To Jason Kidd

Forced to give up his lifelong dream of franchise ownership for his new lifelong dream of being an agent, Jay Z has been looking to unload his stake in the Nets for a few months now. It seems it'll stay in the family: the Post reports that at least some of Jay Z's share will be purchased by new Nets coach Jason Kidd.

It's all come full circle. In the New York Times piece last summer that revealed just how tiny Jay Z's sliver of the team was, we learned it was Kidd who first introduced Jay Z to the then-Nets owners and urged him to buy the team.

There's apparently no conflict of interest barring a coach from owning part of a team, as there is for players and agents. Which does seem slightly odd, considering coaches might have the least job security of all. But this wouldn't be the first time—Magic Johnson was a minority owner during his brief stint as Lakers head coach in 1994.


There's still confusion over just how much Jay Z owned, and whether he's selling the whole thing to Kidd. It was initially reported that Jay Z's $1 million stake amounted to .067 percent, and the Post repeats that share, but says it's worth $500,000. Nets Daily, on the other hand, claims Jay Z's stake was actually .1608 percent, and he's only selling half of it to Kidd, with the other half to another minority owner.

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