Well, that was quick!
In the past year, we’ve seen Jay-Z go hard for the Brooklyn Nets after moving to the NYC borough from New Jersey, but it looks like the reign has come to an end.
The Roc Nation founder has had to battle between being a part owner of the NBA team, or being a sports agent for other athletes through his agency Roc Nation Sports, and now he’s made his choice.
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Jay took to his website Life & Times to announce that he sold his ownership stake of the Brooklyn Nets, even though he still supports them.
He wrote:
“Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever.”
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Jay also wrote that he plans to still attend games for his hometown team, even if he’s not fully invested in them financially anymore.
We know that the Nets are sad to see him go, but Jay’s business is certainly wanted by many others!
Check out his full letter below:
“Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.
The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.”
SOURCE: Life + Times
