Skip to content

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

Sep 4, 2013, 9:42 AM EDT

NBA Draft Basketball AP

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.

Latest Posts
  1. Report: Former NBA player Rex Chapman arrested for stealing product from Apple store

    Sep 19, 2014, 9:45 PM EDT

    Rex Chapman, Ashley Judd Rex Chapman, Ashley Judd

    Chapman played four years for the Suns, and is facing charges in Scottsdale, AZ.

  2. Andrew Bogut is feeling healthy, takes charges on D at Warriors scrimmage

    Sep 19, 2014, 8:15 PM EDT

    Andrew Bogut AP

    Must-read quote from Bogut on how he does NOT want to be perceived.

  3. All PBT’s NBA team previews in one convenient spot

    Sep 19, 2014, 5:59 PM EDT

    San Antonio Spurs v Miami Heat - Game 7 Getty Images

    This post is here to make life easier for you when you want to find these at the end of the season and point out how wrong we were.

  4. UPDATED Report: Timberwolves make push for Eric Bledsoe, Suns not interested in sign-and-trade talks

    Sep 19, 2014, 5:11 PM EDT

    New York Knicks v Phoenix Suns Getty Images

    It has to be a sign and trade and Minnesota doesn’t have a lot of leverage here.

  5. Jeff Green says he wants to be leader on Celtics this season

    Sep 19, 2014, 4:00 PM EDT

    Jeff Green AP

    “It was more just becoming a better all-around player, trying to take the next step and become a leader on this team and will my team to win.” —Jeff Green

  6. James Dolan enlists Carmelo Anthony, Amare Stoudemire to break world kazoo record

    Sep 19, 2014, 3:28 PM EDT

    dolan stoudemire anthony kazoo

    And you wonder why Phil Jackson is worth $12 million a year to the Knicks organization.

  7. Hawks’ Budenholzer adjusting to coach/GM role, had mentor for many years in Popovich

    Sep 19, 2014, 2:50 PM EDT

    Mike Budenholzer

    Budenholzer got thrust into a position with the power a lot of coaches covet.

  8. Cavaliers sign Lou Amundson

    Sep 19, 2014, 12:44 PM EDT

    Serge Ibaka, Lou Amundson Serge Ibaka, Lou Amundson

    Will he make Cleveland’s regular-season roster?

  9. LeBron James unveils latest signature shoe from Nike: The LEBRON 12

    Sep 19, 2014, 12:05 PM EDT

    9.15.14 Nike LeBron 12 Launch

    Full recap from the launch event at Nike World Headquarters in Portland, Oregon, including technical information, details on colorways, and confirmed release dates.

  10. ProBasketballTalk 2014-15 Preview: Toronto Raptors

    Sep 19, 2014, 10:30 AM EDT

    Brooklyn Nets v Toronto Raptors - Game Seven Getty Images

    Kyle Lowry and Co. return for another run

  11. Grizzlies sign Hassan Whiteside

    Sep 19, 2014, 9:30 AM EDT

    Rio Grande Valley Vipers vs. Fort Wayne Mad Ants Rio Grande Valley Vipers vs. Fort Wayne Mad Ants

    Former Kings draft pick joins three other players competing to make Memphis’ roster

  12. Miroslav Raduljica signs in China

    Sep 19, 2014, 9:00 AM EDT

    Miroslav Raduljica Miroslav Raduljica

    Raduljica, after solid rookie year, leaves NBA sooner than he’d hoped.

  13. Dwyane Wade credits David Stern’s dress code for improving his style

    Sep 19, 2014, 8:00 AM EDT

    Dwyane Wade AP

    “Then it became a competition amongst guys and now you really got into it more and you started to really understand the clothes you put on your body.” —Dwyane Wade

Featured video

What players stood out at World Cup?
Top 10 NBA Player Searches
  1. D. Rose (2551)
  2. L. James (2416)
  3. R. Rondo (2326)
  4. K. Irving (2165)
  5. K. Bryant (2123)
  1. E. Bledsoe (1749)
  2. R. Allen (1632)
  3. D. Favors (1624)
  4. J. Valanciunas (1604)
  5. R. Gay (1542)