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Jason Kidd to buy half of Jay-Z’s ownership share of Nets

Sep 4, 2013, 9:42 AM EDT

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He’s not just the coach, he’s the owner… of a sliver of the team.

Remember that Jay Z owned 0.1608 percent of the Brooklyn Nets — a small part of the team but it gave him room to boast on tracks and be at the heart of the redesign of the franchise’s look when it moved to Brooklyn from New Jersey.

Now Jay Z is getting into the agent business (his agency has signed Kevin Durant among others) and he has to sell his ownership share.

Jason Kidd is buying half of that stake at a cost of $500,000. No word on if that includes a share of the Barclay Center. The other half of Jay Z’s share of the team was purchased by an existing minority owner of the team. The New York Post broke the story but the New York Daily News had the updated information.

This is just everything coming full circle — Jay Z bought a part of the Nets back in 2003 at the suggestion of Kidd. Back then Kidd was the Nets All-Star point guard dropping 18.7 points a game. The conversation allegedly took place at Kidd’s 30th birthday party, which was at Jay Z’s 40/40 club in New York.

There is no conflict; coaches can own part of a team (players cannot).

What this means for the Nets ownership structure is nothing, really. Mikhail Prokhorov owns 80 percent of the Nets and is the driving force behind the changes there. It just means when the Nets massive tax bill comes due (they have about $102 million payroll which will mean about $87 million in taxes) Kidd can pay part of it.

  1. mustangs2 - Sep 4, 2013 at 9:52 AM

    This might be a silly question, but what does this say about Kidd’s future? A couple years down the road if another team wanted to give him a shot at coaching, could he really own part of the Nets and coach against them with another team?

    • eventhorizon04 - Sep 4, 2013 at 10:50 AM

      He’d have to sell if he wanted to coach another team.

      However, despite all the hype Jay-Z got for “co-owning” the team, Jay-Z’s share of the team was very, very, very small when compared to Prokhorov. Jason Kidd is buying half of that small piece for $500k, which is nothing relative to a franchise worth hundreds of millions of dollars. Re-selling that piece would be a relatively small deal in the unlikely event that Kidd were to leave to coach another team.

  2. 2016olympics - Sep 4, 2013 at 9:54 AM

    What’s next, J Kidd puts on a jersey and changes his name to Jackie Moon?

    • ProBasketballPundit - Sep 4, 2013 at 6:26 PM

      Great reference. I wouldn’t mind a little competition for the NBA; bring the ABA back and make the Nets their first team! Jacki… Jason Kidd: owner, coach, promoter, player and half time entertainment!

  3. whitdog23 - Sep 4, 2013 at 10:04 AM

    ridiculous. he’ll be a mega-fail at coaching

  4. Kevin S. - Sep 4, 2013 at 10:21 AM

    I kind of doubt it includes a share of the Barclay’s Center. The NBA’s agency rules do not require Jay-Z to divest his arena interests, and everything we’ve heard indicates he doesn’t plan to do so.

    • Kevin S. - Sep 4, 2013 at 10:29 AM

      Or I could be completely wrong:

  5. timb12 - Sep 4, 2013 at 11:41 AM

    Does he get any profits?

  6. dysraw1 - Sep 4, 2013 at 12:05 PM

    at least if he sucks and i doubt he will, he can fire his self

  7. kingjoe1 - Sep 4, 2013 at 2:23 PM

    Has anyone looked at the math in this artcle,? It doesnt make sense.

    • louderthanwords1 - Sep 4, 2013 at 3:02 PM

      Maybe I’m missing something but there’s no math to make that assumption off of. Jay Z owned .1608% the article says for 500,000 Kidd is buying about half of that stake. If you want to do the math he will be buying about .0804. So where do you see a problem with the math?

  8. noring4youstill - Sep 4, 2013 at 5:36 PM

    From Rapper to wife beater. Hell of a franchise ya got there.

  9. dhragonn - Sep 4, 2013 at 7:39 PM

    How does someone get 8% of an NBA franchise for $500k!?! I assume the Nets are worth more than $6.25? Is there financing details included? This doesn’t make sense.

    • Kurt Helin - Sep 5, 2013 at 11:35 PM

      Where did you get 8%? He will own 0.067 percent.

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