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Jay-Z to Sell Nets Stake to Become Basketball Agent, Yahoo Says

April 10 (Bloomberg) -- Jay-Z is seeking to sell his small stake in the Brooklyn Nets to expand his fledgling sports representation business into basketball, Yahoo Sports reported.

The singer, whose real name is Shawn Carter, owns less than 1 percent of the National Basketball Association team, the report said.

Selling his stake is necessary for Jay-Z to get certification as an agent from the National Basketball Players Association, Yahoo said.

New York Yankees All-Star second baseman Robinson Cano this month fired agent Scott Boras to become the first athlete represented by Jay-Z’s Roc Nation Sports and Creative Artists Agency. Cano will be a free agent after this Major League Baseball season.

To contact the reporter on this story: Dex McLuskey in Dallas at dmcluskey@bloomberg.net

To contact the editor responsible for this story: Michael Sillup at msillup@bloomberg.net.

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