Jay Z Selling Half His Nets Stake to Jason Kidd: Reports

Said to own .1608%

By Ruth Brown,  Newser Staff

Posted Sep 4, 2013 10:49 AM CDT

(Newser) – Jay Z has to get rid of his Brooklyn Nets shares, and it looks like he might have found a buyer: head coach Jason Kidd, the man who first suggested he buy into the team 10 years ago. Anonymous sources tell the NY Post that the rapper will exchange half of his stake in the team with Kidd for around $500,000. "Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him," says a source. The other half of the reported .1608% Jay Z owns has already been purchased by another minority owner in the team, reports NetsDaily.

Shawn "Jay-Z" Carter smiles during a news conference at the Philadelphia Museum of Art in Philadelphia.   (AP Photo/Matt Rourke, File)
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