Jay-Z Gives Up Stake In Brooklyn Nets, Named One Of Time Magazine’s 100 Most Influential People In The World

Jay-Z Gives Up Stake In Brooklyn Nets, Named One Of Time Magazine’s 100 Most Influential People In The World

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Jay-Z is forever evolving and made news again earlier this month when he announced he was getting into the sports agent business.

To make his latest business venture come into fruition,Jay-Z had to relinquish his minority stake in The Brooklyn Nets to start the process of being certified as a NBA agent. Jigga released the following statement in regards to selling his stake.

“Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.

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The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.”

Always a shrewd businessman, Jay-Z will still own stake in The Nets home, Barclay’s Center. In related news, Shawn Carter was named as one of Time Magazine’s “100 Most Influential People in the World.” Some of the others making the 10th annual list included his wife Beyonce, President Obama, First Lady Michelle Obama, Justin Timberlake and Frank Ocean. Jigga was also 1 of 7 covers for the issue.

Can’t knock the hustle…

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