HoopsHype Jay-Z rumors

May 4, 2014 Updates

With the series in the bag, Jay Z finally came forward. Jay Z has nearly 3 million followers, but he is not a man who tweets often. The last tweet to come from his official account was posted on July 8th, 2013. After the final horn Sunday, Jay Z gave a shoutout to the Raptors. For The Win

January 30, 2014 Updates

Some around the league point to Durant’s decision to part with Landmark Sport’s Rob Pelinka as his agent to sign with rap mogul Jay Z’s RocNation Sports last summer as a big red flag. However, sources close to the situation say that Durant’s decision was not about Oklahoma City, but about building his off-the-court brand outside of the traditional sports marketing world. Basketball Insiders

January 16, 2014 Updates

If you're going to the Super Bowl, it is time to start being nice to Mark Cuban. In an email, Cuban confirmed the speculation about his Super Bowl party: "The annual AXS TV Direct Super Bowl party will feature Jay-Z," he says. Cuban is the co-founder of AXS TV. He will co-host the party with Eli Manning. Scheduled to be held at DirecTV's SuperFan Stadium at New York's Hudson River Park Pier 40, the event is invitation only. Dallas Morning News

December 28, 2013 Updates
October 15, 2013 Updates

Rapper and hip-hop entrepreneur Jay-Z was the public face of the club's move to Brooklyn, having input into the team logo, and also owning a stake in the franchise. He has since sold his share in the Nets, and the Barclays Center, for $1.5m according to Forbes magazine. The sale was necessary under NBA rules, after he set up his own sports agency. "He doesn't need to be an owner to still be involved," says Mr Yormark. "He is a Brooklyn person, and a season-ticket holder. I expect we will continue to see him at games. "He initially gave us street credibility. He helped raise that awareness and interest during the move to Brooklyn." BBC

October 1, 2013 Updates

In fact, he’s drawing on some of the business lessons he learned much earlier in life, he said. “I know about budgets. I was a drug dealer,” he told the magazine. “To be in a drug deal, you need to know what you can spend, what you need to re-up. Or if you want to start some sort of barbershop or car wash—those were the businesses back then. Things you can get in easily to get out of [that] life. At some point, you have to have an exit strategy, because your window is very small; you’re going to get locked up or you’re going to die.” For The Win

September 23, 2013 Updates

Jay-Z is now certified with the National Basketball Players Association to negotiate NBA player contracts with clubs, according to Robert Gadson, NBPA director of security and agent administration. In June, the NBPA agreed to certify Jay-Z, whose real name is Shawn Carter, pending verification that he had divested his small ownership stake in the Brooklyn Nets. Gadson said last week that the union had received confirmation that Jay-Z had sold his stake in the team. “I have a signed letter that he divested his interest in the Nets,” Gadson said of Jay-Z. “He is now eligible to negotiate on behalf of NBA players.” ph.sports.yahoo.com

September 18, 2013 Updates

Jay-Z has to unload his ownership interests in the Brooklyn Nets and the Barclays BCS +2.78% Center due to his new sports agency, Roc Nation Sports. Roc Nation Sports’ roster includes Robinson Cano of the New York Yankees, Skylar Diggins of the WNBA, the Oklahoma City Thunder’s Kevin Durant, and Victor Cruz of the New York Giants. The rapper has already begun selling his stake in the NBA team, getting $500,000 from Nets head coach Jason Kidd for his one-fifteenth of one percent. The sale to Kidd values the Nets at $750 million, and is the second-highest price paid for NBA team. Vivek Ranadive sold his interest in the Golden State Warriors at a grossed-up value of $800 million so he could buy the Sacramento Kings. Forbes.com

September 9, 2013 Updates
September 4, 2013 Updates

Jay Z is selling his minority ownership in the Brookyn Nets to coach Jason Kidd, sources exclusively tell Page Six. We’re told Kidd will take over Jay’s .067 percent (1/15th of a percent) stake in the team for about $500,000. New York Post

A Nets source tells NetsDaily that Jay Z is selling half his shares in the team to Jason Kidd, the team's new head coach. The cost: $500,000. The other half of Jay Z's shares has been purchased by a minority owner. It's unclear whether Kidd's stake includes part of Barclays Center. NetsDaily

The New York Post first reported the news on Page Six, saying Kidd was purchasing all of Jay Z's stake. However, the source, who has knowledge of the transaction, told NetsDaily Kidd is buying half the entertainer's shares. NetsDaily

According to the source, Jay Z controlled 0.1608 of the Nets, or roughly 1/6 of 1 percent of Nets Sports and Entertainment (not 1/15th of one percent, as reported by the Times last year and the Post Wednesday.) Jay Z, whose name is Shawn Carter, suggested during his opening night concert at Barclays Center that the real number was higher than what the Times' David Halbfinger had reported. He didn't reveal the specific number. NetsDaily

August 22, 2013 Updates
August 19, 2013 Updates
August 16, 2013 Updates

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