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Home Celebrities Does Jay Z Own The Nets? Read Everything You Need To Know

Does Jay Z Own The Nets? Read Everything You Need To Know

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The Brooklyn-based basketball team Brooklyn Nets saw a change in their ownership in the year 2013, as news of Jay-Z selling his stakes in the Nets surfaced. Shawn Corey Carter more popularly known as Jay-Z was born in Brooklyn on December 4, 1969. Jay-Z is actually a very multi-faceted personality as he has dabbled not only in the rapping industry but is also a respected businessman. Currently, the amount of influence that a celebrity can provide to a certain sport is immense. ‘Inspiration is a form of art’ and when the fans see their beloved actors and singers supporting and helping such sports firms they tend to include these sports in their day-to-day hullabaloos.

Jay-Z began his musical career after he founded the recording label Roc-A-Fella records in 1995 and then released his first album Reasonable Doubt in the very next year. ‘Reasonable Doubt’ created an insane amount of buzz and proved as a very strong footing for him in the industry. He has also released full-length collaborative albums such as ‘Everything Is Love’ in which he banded with his wife Beyoncé.

Jay-Z’ Previous Sports Ventures 

Does Jay Z Own The Nets? Read Everything You Need To Know
Jay Z

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Jay Z has gained immense media presence and accomplishment in his journey as a businessman. He began this career by exploring the varying world of the textile industry by founding the clothing retail line called Rocawear in the year 1999. He even founded the 40/40 Club, which essentially is a luxurious sports bar chain. These business ventures have further flourished and have grown to be multi-million-dollar corporations which have enabled Jay Z to pump up and fund a startup for the entertainment company Roc Nation, which laid its foundation in the year 2008.

Jay Z’ Connection To The Nets? Does He Own Them?

Does Jay Z own the Nets?
Jay Z

In the year 2003, Jay Z joined the Brooklyn Nets in the role of a part-owner by buying a 1/15 percent of the total stake for a whopping $1 million. Though the value declined in 2013 hen Jay Z decided to sell his part of the stake to the new head coach Jason Kidd. Jay Z’s part of the stake was bought for a total amount of $500,000. This came as a response to the conflict of interest that arose when Roc Nation, an agency already representing several high-profile athletes, including Oklahoma City Thunder superstar Kevin Durant, as the agency was founded by Jay Z.

Stay Tuned with The Global Coverage for More Updates.

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Nigel Malappan
After earning an HSC degree in science from Utkarsha Jr. College, I entered the field of engineering to explore my unquenched passion for creativity and technology.
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