Rumors have been swirling for weeks about Jay-Z giving up his share in the NBA Brooklyn Nets and this week, he made his departure from the franchise official. The rapper (born Shawn Carter) owns less than 1 percent of the organization, but has been the face of the rebranded franchise. Selling his share is necessary for him to become a certified agent. Earlier this month, Jay-Z launched Roc Nation Sports signing New York Yankees baller Robinson Cano and Giants wide receiver Victor Cruz. He explained:
Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever…
The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.
Peep pics of his days with the Nets below.
All good things must come to an end.
[Complex, Yahoo Sports]