Jay Z reportedly selling shares of Nets to Jason Kidd

Jay-Z sits courtside with wife Beyonce during a Nets game. Credit: Getty Images
Jay Z sits courtside with wife Beyonce during a Nets game.
Credit: Getty Images

Jay Z is keeping his Nets ownership stake in the family.

The New York Post reported Wednesday morning that the minority owner will be selling his shares in the Nets to new head coach Jason Kidd.

While players cannot own shares of a team — Michael Jordan, for instance, had to sell his shares in the Wizards when he made his return — there is no conflict of interest for a coach.

Jay Z owns only a .067 percent stake in the Nets, worth about $500,000.

The superstar rapper joined the team as an owner in 2003 and, despite his small ownership stake, quickly brought a new outlook to the organization. He regularly attended games with his wife Beyonce and championed the move to his home borough of Brooklyn last season. He even opened the Barclays Center last fall with a series of sold-out concerts.

But Jay Z announced the formation of his own sports agency, Roc Nation, in March. He cannot represent NBA players unless he sells his shares as an owner. He reportedly has brought Oklahoma City superstar Kevin Durant into his agency.

Jay Z signed Yankees second baseman Robinson Cano, who is a free agent after this season, as his first client in April. Newly minted Jets starting quarterback Geno Smith is also a client.

Jason Kidd was named head coach of the Nets in June, just weeks after retiring from the Knicks.

Follow Metro New York Sports Editor Mark Osborne on Twitter @MetroNYSports



News
Entertainment
Sports
Lifestyle
Local

Drive charged in fatal hit and run, police…

The NYPD has arrested a man they say is responsible for a fatal hit and run in Manhattan last weekend. Doohee Cho, 33, was hit…

Local

Mayor de Blasio raises minimum wage for some…

Mayor Bill de Blasio signed an executive order Tuesday morning that will raise the minimum wage for workers employed by private companies that receive more…

National

3 myths about the working poor

Linda Tirado works to debunk some common stereotypes about the working poor in her new book, "Hand to Mouth."

Money

Lawsuit funding advances: friend or foe?

Reporter was commissioned to write this in-depth article Many plaintiffs awaiting resolution of their lawsuit or legal claim often find themselves in a tricky financial…

Going Out

Which NYC restaurant lost its three-star Michelin rating?

A record 73 restaurants in New York City collected coveted Michelin stars on Tuesday as a mix of trendy spots and fine-dining stalwarts underscored the…

Entertainment

Interview: Metro chats with filmmaker Meir Kalmanson, man…

A New York filmmaker hands out smiles to its residents.

Television

TV watch list, Tuesday, Sept. 30: 'Selfie,' 'Utopia'…

'Selfie' This modern day take on the "My Fair Lady" story stars John Cho in the Henry Higgins role. Perhaps instead of "the rain in…

Music

Can't-miss weekend events continue to attract the masses

Reporter was commissioned to write this in-depth article Earlier this summer, the Firefly Music Festival drew crowds of tens of thousands of people to Dover, Delaware.…

MLB

Mets 2014 report card

The Mets wrapped up their eight straight season without a playoff appearance last weekend. Needless to say, they fell a bit short of general manager…

NFL

NFL Power Rankings: Cowboys, Packers, Ravens, Chargers climb

NFL Power Rankings: Cowboys, Packers, Ravens, Chargers climb

NFL

Ryan Quigley making a big impact for Jets…

Ryan Quigley, now in his second year as the Jets punter, had an exceptional afternoon with six punts for an average of 51.7 yards per punt.

NFL

3 positives to take from Jets loss to…

The Jets suffered another loss Sunday — 24-17 to the Lions — but the reason why it hurts so much for Jets fans is that…

Style

Products that support breast cancer awareness and research

Asics GT-1000, $100 Asics’ third pink collection in collaboration with Christina Applegate’s Right Action for Women includes this pink-accented version of its best-selling GT-1000 3…

Wellbeing

Dr. Marisa Weiss: Where we stand on breast…

As an oncologist and a survivor herself, Dr. Marisa Weiss knows the urgency felt by those diagnosed with breast cancer. Genetic testing has accelerated the…

Wellbeing

Bees' stingers hold new hope for cancer cure

A promising new lead in the search for a cancer cure has turned up in a place that most people naturally avoid. A team from…

Home

Emily Henderson on small space design

Design expert Emily Henderson shows us how to upgrade our cramped quarters.