Entertainment mogul and rapper Jay-Z has started the process of divesting his small share of ownership with the Brooklyn Nets to extend his Roc Nation Sports representation business into basketball, sources told Yahoo! Sports.
Jay-Z – whose real name is Shawn Carter – owns less than 1 percent of the Nets, but has been a central public figure in the franchise’s marketing and move from New Jersey to Brooklyn.
Selling his share of the Nets is a necessary prelude for Jay-Z to obtain his National Basketball Players Association certification as an agent.
NBA rules mandate that no one individual affiliated with a player representation company can have an ownership stake with an NBA team.
To read this article in its entirety visit Yahoo! Sports.