Sep 4, 2013, 9:42 AM EST
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.
Dec 29, 2014, 11:25 AM EST
Grizzlies guard posts ‘Kodak Moment’ to Twitter
Dec 29, 2014, 10:37 AM EST
Kobe amazed by fan who drove nearly an hour to fight on Christmas to fight someone who doubted Kobe’s greatness
Dec 29, 2014, 10:00 AM EST
Cavaliers guard exasperatedly gives up
Dec 29, 2014, 9:30 AM EST
Center traded by Bucks, waived by Clippers, signed in China since last season
Dec 29, 2014, 8:30 AM EST
He’s back. And the league is more interesting to watch with him in it.
Dec 29, 2014, 8:00 AM EST
Hickson tries to make the right play, but it doesn’t exactly go his way.
Dec 29, 2014, 1:14 AM EST
Dallas, San Antonio pickup quality wins.
Dec 29, 2014, 12:18 AM EST
The Knicks next play Wednesday against the Clippers.
Dec 28, 2014, 10:30 PM EST
Flip Saunders said this a few weeks ago, too, but Rubio isn’t ready to stick to a timeline just yet.
LeBron, after Cavaliers lose by 23 at home to Pistons: ‘Right now we are not very good. In every aspect of the game’
Dec 28, 2014, 9:00 PM EST
An ugly home loss to a dismal Detroit team has LeBron telling it like it is.
Dec 28, 2014, 7:30 PM EST
It had been brewing for a while, but it still caught most of us by surprise.
Dec 28, 2014, 6:00 PM EST
Nice move by the Lakers, who pick up a promising big man prospect with an inexpensive non-guaranteed contract.
Dec 28, 2014, 4:29 PM EST
Knee injury suffered on Christmas Day will continue to keep Irving sidelined.
Dec 28, 2014, 3:30 PM EST
Bryant has uncharacteristically sat out the previous three games simply to rest.
Dec 28, 2014, 2:00 PM EST
West shoved Garnett at the time, but was in a joking mood afterward.
Dec 28, 2014, 12:30 PM EST
Cousins had it all working in this one.
Dec 28, 2014, 11:00 AM EST
It was a risky move by head coach David Blatt.
Dec 28, 2014, 9:30 AM EST
Western Conference ends season with huge advantage, begins another right where it left off
Dec 28, 2014, 8:00 AM EST
He was an offensive force Saturday. Who knew?
Dec 28, 2014, 12:28 AM EST
The Magic still won the game.
- PBT’s Top 10 NBA stories of 2014, No. 8: Kobe Bryant returns 4
- PBT’s Sunday Night NBA Winners/Losers: Cavaliers shouldn’t hit panic button, may want to locate it 3
- Carmelo Anthony sits out second half vs. Portland with sore knee 5
- LeBron, after Cavaliers lose by 23 at home to Pistons: ‘Right now we are not very good. In every aspect of the game’ 43
- Paul Pierce ‘shocked’ by Celtics trade of Rajon Rondo to Mavericks 16
- Kobe Bryant will return to Lakers lineup Sunday vs. Suns 16
- Kevin Love benched entire fourth quarter of Cavaliers win over Magic 30
- PBT’s Top 10 NBA stories of 2014, No. 10: Anthony Davis’ breakout 22