According to Page Six, Jay-Z will be selling his Brooklyn Nets stake to former NBA player, now Net’s head coach Jason Kidd. In 2003, Kidd convinced Hov to buy a stake in the franchise.
We’re told Kidd will take over Jay’s .067 percent (1/15th of a percent) stake in the team for about $500,000.
The move comes as Jay was forced to sell his Nets shares over a conflict of interest after he started a sports agency, Roc Nation, signing clients including Yankee Robinson Cano and Oklahoma City star Kevin Durant.
A source told us, “Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.”