Jay-Z

Jay-Z Wants To Sell Ownership Stake In The Nets


(AllHipHop News) Jay-Z is looking to sell his share of the Brooklyn Nets in order to extend his Roc Nation Sports business, according to sources.

Apparently, Jigga Man sees more more money in his new venture than the worth of his investment in The Nets.

RELATED: Hip-Hop Rumors: Who’s Next In Jay-Z’s Athletic Arsenal?

The mogul’s move is necessary if he is to obtain certification as an agent in the National Basketball Players Association. Right now, Jay-Z owns less than a percentage of the team, but has been central to the public promotion of the business effort. Jay was also a cornerstone of the team’s move from New Jersey to Brooklyn. Still, he cannot represent individual players and an NBA team at the same time.

According to yahoo, Jay-Z’s Roc Nation Sports hopes to enter into the June NBA Draft, a move contingent on the equity sale. One source said. “This isn’t about one draft, but taking the long view of the business.”

RELATED: Jay-Z’s Roc Nation Inks Partnership with Universal Music Group

  • Tall Shon or T.S

    the man is very smart.

  • BossBeaux

    Winning!!!!

  • truthhurtsgayassniggas

    so 50 cent starts boxing promotion now jay z wants to follow? 50 starts energy drink now P.diddy wants to start a water company? lol 50 you are a leader bro.. if jay is so smart businessman tell me what business he promoted from scratch he doesn’t go out and hustle like 50 does… even t.i. hustles way more than Jay does.. jay z got a big team and plus he is the biggest rapper to sum it all up he does less and takes credit for more.. if anything half of his networth is due to Dame Dash.. I’m not hating on the man, but the man is always vacationing or at nets games to be in Germany, Dubai promoting like 50 does you know what i mean? 50 is hands on that’s what i’m trying to say.. he even goes on tv to sell his products.. Jay never had to worry about business cause Dame Dash did all the work.. Roc Nation gave him deal cause of his presense in hip hop if Nas had the right team and right mindset he could’ve become bigger than Jay z.

    • Illiam Elton

      If you look at the Forbes List You’ll see why people call Jay the Ultimate Hustler.His net worth is almost 3 times 50’s and Jay’s at Net Games Vacationing and Doesn’t have to go on T.V to sell his own products.When someone amasses a half a billion dollar Net Worth its really hard to say “Their not hustling”.

      • ItGoesDownINtheDM

        hes hustling in the sense of the word …. 50 cents hustles in the sense of what that word means physically …. lol

    • Eli Pinilla

      Goddamn dog, u mad?!?!?!?!? Im not the biggest jay fan either, but shit ngga, chill!!!! Shit sounds like u breakin your keyboard. If it was that easy, everybody would be where hes at. Let that ngga make his money man…

      • johnblacksad

        LMFAO @ ninja breakin his keyboard!

      • bigdoe6

        Well he did have a valid point. Truth be told half of Jay net worth is due to Dame Dash. There’s no way you can think of Jay’s success without thinking or mentioning Dame Dash. I’m a Jay fan myself but i have to agree with Los on this one.

      • Real talk, they both had skills, Jay was a good rapper and Dame was the marketer.

        It works both ways, if not for Jay Dame wouldn’t have made the money he made too. It’s a shame that dame made a lot of bad decisions / investments.

    • Eny Daboss

      50? lets be clear lol 50 is a donkey 1% from vit water, diddy got 15%, ciroc 20, jay got stack in a team, 50 not, jay been doing business, 50 trynna get in bizness, jay sold rocawea for 275 mill, 50 didnt get ish for gunit clothes, diddy sean john worth 100 mill, diddy blue firm worth over 600 mill mark …..50 watttt nigga please

      • 50 money ain’t seein Jay but don’t get it twisted, 50 is cakin’.

      • ItGoesDownINtheDM

        if we talking percentages didnt they just say jayz stake is less than 1% lol 😉

      • Eny Daboss

        wats up wit 50?

    • Captain Lurk

      How does a story about jay selling his stake in the Nets,turn into Jay vs 50 & Dame ?? Who cares tho ? why does everything have to be a competition ? They all makin major moves gettin major money @ the end of the day..all that other shit is irrelevant

      • Weedras

        crab niccas,think like that…

    • NEWSKULL

      On the real I am a 50 Cent Fan too but that’s overboard… In the cheese game, 50 had to follow Diddy and Jay footprint (Clothing/Shoe/Record Label/Branding etc..) or else he wouldn’t have come up this fast… Plus there is room for everybody in the sports business (and all kind of businesses as a matter of fact), I am glad Jay entered this business too a lot of Athletes need financial/career guidance… I see their visions, it is time to create and sustain Black Wealth, we are all tired of that same ol bankruptcy/IRS nonsense… Now If I was an athlete, I would rather deal with 50 not Jay to manage my career because 50 answers calls and when shits get ugly he is there… All the people that dealt with Jay had the same issue, micro-management is not his cup of tea … Camron, Dame Dash, even Robert DENIRO he does not answer/return calls…

      • ItGoesDownINtheDM

        u think they are in it to sustain black wealth lol … man them dudes are trying to fatten thier wallets even more lol which im not knocking but i know they aint thinking about what you saying lol

    • Banksy

      Wow you sound like a nigga that tried to hand Jay your demo and he laughed at you. Relax homie

    • All true.

    • Tony G.

      usually when u start a sentence with “I’m not hating on the man.”…..that’s exactly what ur doing

    • Weedras

      once you have to cleanse your conscience by saying your not hating chances are there is some bias or illwill behind your words and judging by your comparisons you’re a bit upset…. dude wouldn’t be making the moves he’s making if his input wasn’t viable for whoever he’s doing business with… and 50cent aint promote vitamin water from scratch dude just like jay bought into the company and seeing him as a public figure they used him in marketing… and further more a man can ‘hustle’ all he wants if his moves are not correct his ‘hustle’ will not be viable… Diddy and Jay aint up there in forbes for simply sitting there with their names on shit… learn business dude not ‘hustle’..

      • ItGoesDownINtheDM

        uh rocawear put jayz on that list and ever since he sold his share hes been sliding down …..i think jayz is down to 100mil maybe lower if he sales his stake in the Nets he probably wont make the list anymore or @least not the top forbes list …. diddy been going up dude was @ 500million @ one point ……

    • Don’t get me wrong Los, this is not to discredit you and I hope you don’t take it the wrong way.

      Firstly how much is 50 worth? How much is Jay Z and Puffy worth? Answer that question.

      To make money from a business you don’t always have to start from scratch or be out there being busy grinding when you’ve got a team.

      There is something called leveraging which is what I see Pufff and Jay do. The risk in leveraging is less than starting a business from bottom up. Levaraging can involve financing or licensing your brand but it also goes further that that.

      Levaraging will also allow you to piggy back on someone else’s success as long as you bring some value. Jay Z and Puff do that. This doesn’t make them less of a business person. There are a number of things that Jay z and Puffy created from bottom up in the past, they may not be willing to take the same risks they took many years ago now.

      Now on the other hand if you start a business from scratch the chances of losing all your investment / failing is a possibility, but if it takes off the right way the profits are there to be made. Fiddy does that and is willing to take major risks for higher returns. That’s also business.

      Everyone has a different approach to business hence the reason why you can’t compare Jay Z and Puff et al to Fiddy, since each is prepared to be exposed to a certain level of risk. Just because you have X millions in your account doesn’t mean you should risk it all. Dame lost a lot due to the risks he was constantly taking plus other issues he faced too.

      Saying that Dame did all the work is also incorrect, they both had special talents, dame was someone that loved to be in the driver’s seat hence the reason why he was given that role.As a matter of fact Dame perfectly fit in that role because of his assertiveness.

      Just because someone doesn’t start something from scratch doesn’t mean they’re not a business person. Being a business person is all about being smart and these guys are smart when it comes to business.

  • Eli Pinilla

    “I sell ice in the winter, I sell fire in hell/ i am a hustla baby, I sell water to a well/ I was born to get cake/ move on and switch states/ cope the coupe with the roof gone and switch plates/ was born to dictate/never follow orders dick face/ get your shit str8/ fu*cka this is big J” – Jay-z

  • bigdoe6

    He owns less than 1% of the team and dudes be running around talking about he owns the team. SMH.

    • JusNathaniel

      You know what im saying.. niggas really had me thinking that was jays team! I feel like a donkey right now lool

      • Tony G.

        Reading is fundamental bro..its always been known that he was the smallest of the minority owners…his part was the influence needed to get the team to Brooklyn and that’s what he did…his part was to help get the arena built..thats what he did…he has exclusive liquor license in the arena and a store there as well if im mistaking…so he’s making out regardless

      • bisolabliss

        Agreed but Jay and his cohorts shouldn’t have been going around claiming Jay owns the net. Kanye once rapped he could get Jay to drop Kris Humphries (Kim Kardashian) from the lineup…off of him owing less than 1%…lol. And even when Jay was exposed as owning less than 1%, he still came out trying to claim it was false that he owned more…Nigguuuhh Please. Make your money but leave the excessive bragging alone, you’ve already made something of yourself

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  • eddieknucks

    I always thought for such a small percent they got his ass working. I feel him.

  • Occasio Gee

    This doesn’t affect his stake in the arena correct?

    • Tony G.

      at all..or the liquor deal he has with the arena or the store he has there…still winnin

    • Weedras

      i heard he’s going to sell his stake in the team for more equity in the arena so basically he’s moving his chips around…

  • ANDRE SALAZAR

    Allegedly! How do you right so much based on NO information?? #duh #fail

  • Tony G.

    If u can’t afford to buy the “little stake” he has in the team…the chill with the criticism..

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