After announcing that he'd be leaving the Nets this past April, Jay-Z is reportedly removing his last tie to the basketball team he brought to Brookyn - the rapper is reportedly selling his one-fifth of one percent ownership of Barclay's Center.
According to Forbes, Jay allegedly has to bow out because of a conflict of interest with Roc Nation Sports, a new agency that currently has signings with Robinson Cano, Kevin Durant and Victor Cruz. Since Jay started the group, the hip-hop mogul has allegedly already started getting rid of his portion of the Nets, selling one-fifteenth of one percent to head coach Jason Kidd for $500,000.
The New York Times reported that Jay's stake in the Nets is around $1.5 million - the entire place is worth about $741 million. But Forbes disputed that number, claiming that the rapper's portion might actually be a whole lot more, in the wake of the venue's huge success.
After Forbes released the report, Roc Nation contested the financial publication's claims, tweeting a screen shot of the article, with "#NOTFACTSONLY" splashed in red across the front - a nod to Jay's oft-employed phrase, "facts only."
#NOTFACTSONLY pic.twitter.com/rYdkuFgcjl
— Roc Nation (@RocNation) September 19, 2013
Jay-Z has groaned over the dispute of his ownership percentage of Barclay's Center for quite some time. During his performance at Barclay's Center in October of last year, Hova fired back at critics who said he was trying to use his small stake in the venue to gain more media attention.
"It doesn't matter what percentage," he said at the time. "The story is that a black kid from a single parent house made it from [Marcy Projects] from about six minutes away from here. So the fact that I have any ownership in this franchise is f---king amazing. The fact that I have any ownership in this venue is f---king amazing. Don't let them diminish your accomplishment or dim your shine. It's f---king amazing."
