Jay Z, the entertainer who started
an athlete-representation firm in April, is selling his minority
share in the Brooklyn Nets to the team’s coach, Jason Kidd, for
$500,000, the New York Post reported, according to people
familiar with the situation.
Team spokesman Barry Baum declined to comment in an e-mail.
Jay Z was forced to sell his .067 percent stake in the
National Basketball Association franchise to avoid a conflict of
interest after starting the Roc Nation sports agency.
Roc Nation’s clients include New York Yankees second
baseman Robinson Cano and Oklahoma City Thunder forward Kevin
Durant. The company operates in a partnership with Creative
Jay Z, whose real name is Shawn Carter, has won 17 Grammy