Jay-Z practically became the face of the Brooklyn Nets after investing one million dollars in the basketball team over nine years ago.
Jay helped move the team from New Jersey to Brooklyn, assisted in designing the logo, brought recognition to the venture and is even performing eight sold out shows at the new arena this coming September.
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Although the 42-year-old rapper-turned-businessman is heavily involved with the endeavor, one would be shocked to find out just how much of the Brooklyn Nets he owns!
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According to the New York Times, the Watch The Throne rapper only owns one-fifteenth of one percent of the former New Jersey team.
Yet he has been able to maximize his sliver into major paper!
All told, he has achieved a remarkable feat of leverage with his tiny sliver of the team, which was reduced from one-third to one-fifteenth of a percent upon Mr. Prokhorov’s purchase of the Nets, according to people aware of the deal terms. (Mr. Carter, who declined to be interviewed for this article, retains a slightly larger sliver of the arena itself — just under a fifth of a percent.)
Do you think that’s enough power for Jay to drop Kris Humphries off the team if Kanye West needed him to?
SOURCE: New York Times
