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.
May 30, 2015, 8:00 AM EDT
He’s the frontrunner right now.
Doc Rivers on report that Chris Paul and DeAndre Jordan had a falling out: ‘I can put this to rest: They get along great’
May 30, 2015, 12:01 AM EDT
It’s literally Rivers’ job to quash these types of rumors.
May 29, 2015, 11:00 PM EDT
Why should he?
May 29, 2015, 10:00 PM EDT
Sefolosha suffered a leg fracture during a police incident that kept him from participating in the playoffs.
May 29, 2015, 9:00 PM EDT
Would you pay $700 for two pairs of sneakers?
May 29, 2015, 8:00 PM EDT
Jeff Hornacek remains in charge, but there has been some shuffling among his assistants.
May 29, 2015, 7:01 PM EDT
There are questions about the future of Josh Smith, Patrick Beverley and others with the team.
May 29, 2015, 6:15 PM EDT
The two most popular players in the NBA this season (with Kevin Durant out) go head-to-head on the NBA’s biggest stage.
May 29, 2015, 5:29 PM EDT
Cleveland’s defense has looked better in the playoffs than it has all season, but starting next Thursday it will get the biggest test it has had all season.
May 29, 2015, 4:53 PM EDT
Skiles is a former Magic player from 1989 through 1994.
May 29, 2015, 4:30 PM EDT
Ayesha Curry cooks, Stephen Curry tastes, and Riley Curry points out raspberry-sauce spills
May 29, 2015, 3:45 PM EDT
Would hiring Thibodeau really a wise call by the Pelicans?
May 29, 2015, 3:09 PM EDT
The NBA needs to review this process going forward.
May 29, 2015, 2:14 PM EDT
Warriors guard passed, but not enough time had passed to determine his health
May 29, 2015, 1:25 PM EDT
Atlanta guard expected to miss 3-4 months
May 29, 2015, 12:43 PM EDT
Believable, but is that why it’s believed?
May 29, 2015, 12:04 PM EDT
Varejao was slated to miss the entire season with an Achilles tear
May 29, 2015, 11:17 AM EDT
NBA gives Rockets center a flagrant foul, rescinds technical fouls for him and Andrew Bogut
May 29, 2015, 10:54 AM EDT
Contract negotiations reportedly ongoing
Report: Tom Thibodeau not interested in coaching Pelicans (because he fears Anthony Davis leaving), Magic or Nuggets
May 29, 2015, 10:21 AM EDT
My money is on Davis outlasting Pelicans’ next coach in New Orleans
- PBT Extra with NBASavant.com: Cleveland may want to cover Curry in the left corner 2
- It’s official: Scott Skiles hired as head coach of Orlando Magic 23
- PBT Podcast: Talking Thibodeau/Bulls divorce; future for Rockets, Hawks 0
- Warriors’ Klay Thompson officially diagnosed with concussion 20
- Klay Thompson should not have been cleared to return to Game 5 after concussion evaluation 15
- Dwight Howard suspended one game after foul switcheroo 18
- Three coaches who may replace Tom Thibodeau in Chicago 15
- Report: Kevin Love going to “look around” this summer as free agent; Celtics, Lakers, Rockets possible 49