Jay-Z selling his stake in the Nets to become player agent

Published on NewsOK Modified: April 10, 2013 at 9:08 pm •  Published: April 10, 2013
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NEW YORK (AP) — The Brooklyn Nets are losing one of their biggest names as they prepare for the playoffs.

Jay-Z owned just a little piece of the team, but was a large presence when the franchise changed homes and identities this season.

The rap mogul is selling his stake in the Nets so he can become certified as a player agent, possibly before the end of the season. The process is underway, with paperwork already filed, a person with knowledge of the details said Wednesday.

NBA rules prevent anyone from being involved in ownership and player representation.

Yahoo Sports, which first reported Jay-Z's plans, said his Roc Nation company has partnered with Creative Artists Agency (CAA) and hopes to compete for players in this June's NBA draft.

Jay-Z owns less than 1 percent of the Nets, but has had a major impact with the franchise's move to his hometown. He had input and in some cases complete control of everything from the interior of the $1 billion Barclays Center to the design of the team's black-and-white uniforms, which he debuted himself during his run of eight sold-out concerts in September that served as the debut of the arena.

A spokesman for Jay-Z, whose real name is Shawn Carter, did not respond to a message.

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