Sep 4, 2013, 9:42 AM EDT
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.
Apr 24, 2014, 5:46 PM EDT
Sorry KD, but through two games Allen has been the MVP of this series.
Apr 24, 2014, 5:00 PM EDT
No suspension for McRoberts. Somehow.
Apr 24, 2014, 3:59 PM EDT
Jabari Parker says he passed more than Carmelo because he had a better team to pass to.
Apr 24, 2014, 3:17 PM EDT
He wants Steph Curry money, but he’ll likely get more like $7 million a year.
Apr 24, 2014, 2:32 PM EDT
Gasol basically wants D’Antoni gone, but even then he likely moves on.
Apr 24, 2014, 1:56 PM EDT
Oscar Robertson thinks ‘Melo should get out of Dodge (and go to Houston).
Apr 24, 2014, 1:22 PM EDT
Kevin Pritchard tweets message from Pacers president
Apr 24, 2014, 12:44 PM EDT
Less-heralded Damien Inglis declares, too
Apr 24, 2014, 12:01 PM EDT
He will not be getting a baseball contract soon.
Apr 24, 2014, 11:26 AM EDT
Dwyane Wade does writeup on Serena Williams
Apr 24, 2014, 10:52 AM EDT
Harden is frustrated. He should be, shooting under 30 percent for two games.
Apr 24, 2014, 10:19 AM EDT
Grizzlies guard gets Joe Dumars Trophy over Jeff Green, Channing Frye, Bradley Beal, Damian Lillard and Mike Dunleavy
Apr 24, 2014, 9:24 AM EDT
Trail Blazers forward is averaging 44.5 points trhough two games
Apr 24, 2014, 8:46 AM EDT
Dwight Howard was aggressive early and put on a show, but LaMarcus Aldridge won the war.
Apr 24, 2014, 8:00 AM EDT
All three series Thursday night are tied 1-1.
Apr 24, 2014, 2:48 AM EDT
LA has 89 points and 26 rebounds in two games.
Apr 24, 2014, 1:40 AM EDT
Trail Blazers take 2-0 series lead with second win in Houston
Apr 23, 2014, 11:54 PM EDT
The Spurs turned the ball over on 26.2 percent of their possessions. It’s very unSpurs like.
Apr 23, 2014, 10:28 PM EDT
This should have gotten McRoberts ejected.
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- Oscar Robertson says if he were Carmelo Anthony “I would leave today” 39
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