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

in Entertainment

Today in entertainment history: April 21

Fresh
dolly

A look at the news making Hollywood headlines in years past.

in Entertainment

Roseanne Barr says she’s going blind

roseanne

The "Roseanne" star, 62, says her "vision is closing in now."

in Music

Ariana Grande and Big Sean split

arianagrandebigsean

The pop star and the rapper have reportedly broken up after dating for eight months.

in Viral Videos

WATCH: A proposal from the dog’s POV

15-overlay7

Who needs a selfie stick when you've got man's best friend?

in Music

Zayn Malik breaks his silence to thank fans

zaynmalik

The pop star has returned to social media after a month's silence to thank fans for their support following his departure from One Direction.