Jay Z sells his stake in Brooklyn Nets

Jay Z sells his stake in Brooklyn Nets

Entertainer and Brooklyn Nets minority owner Jay-Z and his wife, entertainer Beyonce, watch an NBA basketball game between the Nets and the New York Knicks at Barclays Center, Monday, Nov. 26, 2012, in New York. The Nets won 96-89 in overtime. Photo: Associated Press/Kathy Willens

Rapper Jay Z is selling his stake in basketball team Brooklyn Nets to coach Jason Kidd.

The 99 Problems hitmaker, who was introduced to the team in 2003, will be signing off his 0.67 per cent ownership to Kidd for around $500,000, according to New York Post gossip column Page Six.

The star, real name Shawn Carter, has been forced to sell his stake over a conflict of interest after he formed his own sports agency, Roc Nation Sport, earlier this year.

A source says, “Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.”

Recent Headlines

in Entertainment, Lifestyle

Oh no! We might be facing a pumpkin shortage by Thanksgiving


An unusually wet June has cut yields of the autumn favorite by about half.

in Entertainment

We’ve reached the ‘future’ as it was envisioned in ‘Back To The Future’


We're still waiting on those flying cars ... but almost everything else was predicted in the '80s film franchise has come close to being true.

in Sports, Viral Videos

WATCH: Peewee footballers ‘Whip’ and ‘Nae Nae’ instead of playing


That moment when you're supposed to be playing football but your jam comes on ...

in Music

Newcomer cast as lead in Toni Braxton biopic


Production is underway on "Unbreak My Heart: The Toni Braxton Story," a film based on the Grammy winner's 2014 memoir.

in Music

Beyoncé, Rihanna among the pop stars suing Paris clothing company


Beyoncé, Jay Z, Kanye West, Pharrell Williams, and Rihanna have teamed up to sue a Paris clothing retailer they say has been "brazenly" selling shirts, hats, cellphone cases, and other items featuring their likenesses without permission.