Jay Z Sells Brooklyn Nets Stake To Jason Kidd

It has been rumored for months now that Jay Z had to sell his minority .067 percent (1/15th of a percent) stake in the team now that he has ventured into sports agent business with Roc Nation.

The stake is said to be worth about $500,000 and NY Post Page Six states that the shares have been sold to head coach Jason Kidd.

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

Jay Z has already signed Kevin Durant to a deal so the move has been in the works for some time now and was necessary to avoid a conflict of interest.