Jay-Z sells stake in the Nets

Jay-Z is no longer a co-owner of the Brooklyn Nets.

The sale was necessary because of his launching the sports agency, Roc Nation Sports. NBA rules forbid team ownership by those who represent players.

“Being a member of the Nets organization surpassed some of my greatest ambitions,” he wrote on his web site, Life and Times. “It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I’m a Brooklyn Net forever.”

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