Tags: jay-z | sell | nets | nba

Jay-Z Sells Nets: Giving Up 1% Stake in NBA Team to Become Sports Agent

Jay-Z Sells Nets: Giving Up 1% Stake in NBA Team to Become Sports Agent
Jay-Z, left, a part-owner of the Brooklyn Nets, smiles as he watches the Nets play the Golden State Warriors in an NBA basketball game in New York, Dec. 7, 2012.

By    |   Wednesday, 10 April 2013 07:53 AM

Rapper Jay-Z is planning on selling his small stake in the Brooklyn Nets for the sake of becoming a free agent, Bloomberg reported.

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

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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.

"At this point in my career, I am ready to take a more active role in my endeavors both on and off the field," Cano said in a statement. "I am confident that the pairing of Roc Nation Sports and CAA Sports will be essential in helping me accomplish my short- and long-term goals. I am making this important decision now so I can keep my focus on helping the Yankees succeed in 2013, while minimizing any distractions for me and my teammates."

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Cano will be represented on the field by a team of agents led by CAA Sports' Brodie Van Wagenen. Since Opening Day 2011, CAA Sports’ baseball group has negotiated more than $1.1 billion in Major League contracts, including eight contracts with a guaranteed value of $50 million or more, of which four exceeds $100 million, more than any other agency.

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Rapper Jay-Z is reportedly planning to sell his small 1% stake in the Brooklyn Nets for the sake of becoming a free sports agent.
Wednesday, 10 April 2013 07:53 AM
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