Jay-Z Sells Nets Shares To Become NBA Agent
Jay-Z will have to sell his share of the Brooklyn Nets in order to embark on his new career as an NBA agent.
According to Yahoo Sports, Hova is planning to extend Roc Nation Sports to the basketball world and when he does he won’t be allowed to own a portion of an NBA team. Jay-Z plans to sell his shares of the Brooklyn Nets so that he can start signing players to his agency.
The singer recently partnered with Creative Artists Agency so he has a team of agents ready to talk with NBA prospects. Hova is hoping to all the legal aspects worked out before the NBA draft so that he can get his sports agency off the ground before the start of the next season.
Adrian Wojnarowski at Yahoo Sports writes: “Selling his share of the Nets is a necessary prelude for Jay-Z to obtain his National Basketball Players Association certification as an agent. NBA rules mandate that no one individual affiliated with a player representation company can have an ownership stake with an NBA team.”
Jay-Z only owns 1% of the Brooklyn Nets but he was influential in bringing the team to Brooklyn from New Jersey. He also helped design the team’s new logo and colors.
Nets interim coach P.J. Carlesimo told ESPN: “It would be disappointing [if he left]. I’d be disappointed. He had an enormous amount to do with the rebranding of the team. I wasn’t close to it at all, but from what I’ve seen, it would be hard to overstate his importance in this all. I like his involvement in the team; he’s at the games, and maybe he’s around more than I realize behind the scenes. But he’s an excellent fan, one that wasn’t just around this year, but a lot in the past too, which is very telling to me.”
Jay-Z doesn’t have any specific basketball credentials but he shouldn’t have any trouble securing NBA prospects. Hova has a lot of connections and a lot of influence and will be able to offer players something beyond the basketball world.
Jay-Z has already signed New York Yankees second baseman Robinson Cano to Roc Nation sports. The Yankees star will be entering free agency next year so we’ll see just how effective Jay-Z can be as an agent.
Are you surprised that Jay-Z is selling the Brooklyn Nets?
