News

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

27 mins ago in Entertainment

Today in entertainment history: May 27

Fresh
sinatra

A look at the Hollywood headlines that went down in history.

12 hours ago in Viral Videos

WATCH: This slow-mo capture of a lightning strike is like fire falling from the sky

15-overlay-15

This wicked weather was recorded at 7000 frames per second. Mother Nature is truly breathtaking.

12 hours ago in Music, Viral Videos

Blake Shelton finally tries sushi

20-overlay-11

Jimmy Fallon takes "The Voice" judge out for a little dinner and a chance to broaden his horizons.

14 hours ago in Entertainment

REVIEW: ‘Alice Through the Looking Glass’ is a totally pointless, boring sequel

17-overlay-3

Not even Johnny Depp - reliable as ever inside a fright wig and exaggerated make up - can save this sequel.

18 hours ago in Entertainment

Stage is set for toughest National Spelling Bee ever

11-overlay-15

The final day of the Scripps National Spelling Bee could feature the most difficult words ever used in the competition.