Jay-Z has recently popped the top on Roc Nation Sports, and as a result, has a conflict of interest by owning an NBA franchise….so he’s apparently looking to remove his ownership. As reported by Yahoo:
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.
Jay-Z’s Roc Nation company has partnered with Creative Artists Agency (CAA) to launch a sports representation business that recently secured New York Yankees star Robinson Cano.
The process is expected to be completed in time for Roc Nation to compete for players entering the June NBA draft, but there’s no guarantee of the timing, sources said. Those within Roc Nation and the CAA alliance aren’t “chasing a clock on this,” one source said. “This isn’t about one draft, but taking the long view of the business.”
