Kidd will take over Jay Z's .067 percent (1/15th of a percent) stake in the Nets for $500,000, according to reports.
Jay's departure from the Nets was bittersweet as he was a strong force behind re-branding the team. The entertainment mogul was forced to sell his share to move forward as an NBA sports agent through his new company Roc Nation Sports.
No individual can have ownership in an NBA team and be affiliated with a player representation company, according to NBA rules.
BET Sports News - Get the latest news and information about African-Americans in sports including weekly recaps, celebrity news and photos of your favorite Black athletes. Click here to subscribe to our newsletter.
(Photos from left: REUTERS /RAY STUBBLEBINE /LANDOV, AP Photo/Kathy Willens, File)
TRENDING IN NEWS