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.
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Peter Feigin makes another threat
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Guard will make $2.5 million
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In Utah, he counts as a veteran
Jul 6, 2015, 6:44 PM EDT
This is a solid signing, but the Mavs need more help at the guard spot.
Jul 6, 2015, 6:01 PM EDT
This trade could work for both teams if the Clippers can flip Haywood’s contract again for a big man.
Jul 6, 2015, 5:01 PM EDT
West left $10.6 million on the table to go to a contender.
Jul 6, 2015, 4:36 PM EDT
This signing was never in doubt.
Jul 6, 2015, 4:12 PM EDT
Signing Terry would go over well with the fan base in Dallas
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Skilled forward was No. 35 pick in 2010 NBA draft
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Can the Spurs keep Patty Mills and Boris Diaw, too? Ginobili must still negotiate a contract
Jul 6, 2015, 2:15 PM EDT
Lakers are surprisingly high at 50/1
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Nobody wants Anderson Varejao and his contract
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As a result, Clippers suffer
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Cavaliers forward, a basketball and nothing else
Jul 6, 2015, 11:30 AM EDT
Michael Malone lands a good lieutenant
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Former NBA point guard also loves Cory Joseph signing with Raptors
Jul 6, 2015, 10:03 AM EDT
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Llull will have a lower buyout, though
Jul 6, 2015, 8:30 AM EDT
The best guy widely available? David West.
Jul 6, 2015, 8:00 AM EDT
This is a good pickup for the Raptors.
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