After
helping the Brooklyn Nets to relocate from New Jersey to his hometown borough
this season, Jay-Z announced he will be selling his stake in the
pro basketball team. Earlier
this month, the rapper and entrepreneur launched Roc Nation
Sports, a joint-venture sports management agency with Creative Arts
Agency.
National
Basketball Association rules stipulate that agents can't both represent
professional athletes and have a stake in a team. For Jay-Z to move forward as
an agent, he had to relinquish control of the sports franchise.
Jay-Z,
whose real name is Shawn Carter, explained his departure in
the following statement: After Cut
