Hip hop mogul Jay-Z is apparently selling his ownership share in the Brooklyn Nets in order to expand his current Roc Nation Sports representation business to include NBA players, according to a report from Yahoo! Sports.
Jay-Z’s stake in the Nets is less than one percent, but he maintains a large presence as a public figurehead for the franchise. By initiating the process of divesting his ownership share, it will eventually allow Jay-Z to become certified as an NBA player’s agent.
According to NBA league rules, the path to becoming an agent means that any conflict of interest must be eliminated and in Jay-Z’s case, owning a share of a current NBA franchise. The full ownership divestment and agent certification process will purportedly be completed just in time for the 2013 NBA Draft in June.
Jay-Z might not have the sports business savvy of more seasoned NBA agents, but his prominence as an iconic entertainer and his deep-rooted connections will certainly be an attraction to current and future NBA stars.
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