Sept. 4 (Bloomberg) -- 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 Artists Agency.
Jay Z, whose real name is Shawn Carter, has won 17 Grammy Awards.
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