Jay-Z Selling Stake in Brooklyn Nets

Sean Carter will move forward as an NBA sports agent.

Posted: 04/10/2013 09:25 AM EDT
Jay-Z Selling Stake in Brooklyn Nets

Sean "Jay-Z" Carter continues to gain power in the entertainment world. Although it was a big deal for the rapper to have ownership in the Brooklyn Nets, he is now selling his share to move forward as a NBA sports agent, according to Yahoo! Sports.

No individual can have ownership in an NBA team and be affiliated with a player representation company, according to NBA rules.

"It would be disappointing [if he left]," Nets interim coach P.J. Carlesimo said, according to ESPN. "I'd be disappointed."

"He had an enormous amount to do with the rebranding of the team. I wasn't close to it at all, but from what I've seen, it would be hard to overstate his importance in this all. I like his involvement in the team; he's at the games, and maybe he's around more than I realize behind the scenes."

Jay-Z's .067 percent (1/15th of a percent) stake in the Nets is worth approximately $350,000.

He has already set the foundation to take over the sports world, recently partnering his company Roc Nation with Creative Artist Agency (CAA). New York Yankees second baseman Robinson Cano signed as his first client.

"Because of my love of sports, it was a natural progression to form a company where we can help top athletes in various sports the same way we have been helping artists in the music industry for years," Jay said in a statement.



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  (Photo: Jim McIsaac/Getty Images)

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