Jay-Z is looking to sell his share of the Brooklyn Nets in order to extend his Roc Nation Sports business, according to sources. Apparently, Jigga Man sees more more money in his new venture than the worth of his investment in The Nets.
The mogul’s move is necessary if he is to obtain certification as an agent in the National Basketball Players Association. Right now, Jay-Z owns less than a percentage of the team, but has been central to the public promotion of the business effort. Jay was also a cornerstone of the team’s move from New Jersey to Brooklyn. Still, he cannot represent individual players and an NBA team at the same time.
According to yahoo, Jay-Z’s Roc Nation Sports hopes to enter into the June NBA Draft, a move contingent on the equity sale. One source said. “This isn’t about one draft, but taking the long view of the business.”