Jay-Z Relinquishes Brooklyn Nets Stake

Jay-Z In Concert

It’s official. Days before the Brooklyn Nets make their playoff debut, Jay-Z renounced his ownership of the team. Don’t get it twisted though, he’s still keeping his seat.

Being a member of the Nets organization surpassed some of my greatest ambitions. 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. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.

The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.

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52 Comments
  • Faded

    no ome cares anymore Jay

    • B.Dot

      @Faded U cared enough to comment tho. Advantage jigga

  • Dashing

    Smart move. Leaking that this was gonna happen days before. And announcing right before they make the playoffs.

  • mac DIESEL

    Being a member of the Nets organization surpassed some of my greatest ambitions. 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. It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.

    The Nets have made their mark on the NBA and as they enter a new era, Roc Nation does as well; as we embark on Roc Nation Sports. Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net.

    ^

    Translation: I’m tired of being your mascot, Mr. Prokhorov.

    …………HA!!!! JUST JOKES!!!! JAY’S INFLUENCE WAS WORTH MORE THAN HIS MINOR OWNERSHIP!!!! PRETTY SURE HE GOT SOME NICE PARTING GIFTS!!!!

    DON’T HATE ON MY OPINION!!!!

  • Beaming

    King Hov.

  • mac DIESEL

    @ B.Dot

    @Faded U cared enough to comment tho. Advantage jigga

    ^

    ALWAYS QUICK TO RUN OUT YA LIL CUBICLE AND DEFEND JAY-Z!!!! WISHED U MOVED THAT FAST TO GET A GIRL!!!!

    ………HA!!!! ADVANTAGE mac DIESEL!!!!

    DON’T HATRE ON MY OPINION!!!!

  • michelle michelle

    See you at the JiggaPlex

  • Greggsybabe

    Co-sign mac – Jay’s advertising and rep revitalised the Nets and their brand far more than moving to Brooklyn or them becoming a play off team.

  • Tbones

    Translation, am done with my role of a glorified mascot, i got paid handsomely for bringing you dweebs along for the ride and now its just on to the next one. There is a reason you dweebs are just finding out i owned less than 0.5 % of the team. You all gone learn today. Ahhh.

  • Tbones

    And why is Bdot always getting trampled upon by MacDiesel on his home turf? SMH

  • Beaming

    @mac Diesal stay jerkin niggas off.

  • DK

    Bulls!

    That is all.

  • Donn

    Smh, at this point people just want to see Jay take a “L”, that man helped bring the Nets to Brooklyn and people shit on him.

    Remove Jay-Z from the picture and imagine how things would be with the Nets

  • Tbones

    SPURS, that is all. By the wAY, the Nets better take their retarded ass back to fucking New Jersey.

  • B.Dot

    @T-Bones Huh? @Mac DIESEL is a sex offender.

  • mac DIESEL

    @ B.Dot

    @Mac DIESEL is a sex offender.

    ^

    ………..HA!!!! DAMN NIGGA, U REACHIN’!!!! JUST WAVE THE WHITE FLAG AND TAKE THE “L” BRIAN!!!!

    DON’T HATE ON MY OPINION!!!!

  • eat a D

    jay z is by far the smartest DICKRIDER you will ever see……as soon as hes done milking your shine then its on to the next 1 #genius

  • dave

    oh jay-z gone? i could burn this weak nets jersey now

  • ZoomZoomDad-Otis

    Jay is going to make big impact on being a sports agent. The Nets are in BK. That was the plan. On to the Next One.

  • Johnny Ryall

    @mac DIESEL’s #1 man crush

    “A wise man told me don’t argue with fools, cause people from a distance can’t tell who’s who.”

    – The Black Branch Rickey

  • Picasso Micheaux

    Don’t worry…
    Jay’ll be fine…
    Anyway…
    Blow one and enjoy…
    More than a song, its an experience…

  • Faded

    @mac DIESEL Brian only comments on post that are about Jay-Z, Rick Ross or Macklemore

  • Jay is a Fraud
  • Jay is a Fraud

    This dude is sucking the Russian dick for $300,000 but had to pay $1 mill for Blue Ivy’s seats. He came up with a net loss but only invested so he can brag about owning the Nets. But y’all cats don’t hear me doh.

  • Jay is a Fraud

    People been living in BK for years trying to make their communities better. Finally when it happens Bruce Ratner buys up the property and raises the rent on families to the point they cant afford it. Now they have to move out so the hipsters can take advantage. BTW Ratner is buds with Bloomberg and part owner of the Nets, but y’all don’t hear me doh.

  • 50cent ‏@50cent Your a punk @ElliottWilson and you will always be a punk. (Reebok holds our partners to a high standard, and we expect them to live up to the values of our brand. Unfortunately, Rick Ross has failed to do so.”)

    ^^^ i agree with the nigga above me

  • prai$e

    didnt he only own less than 10%? jay always been a house nigga.

  • prai$e

    how long before jay is featured on a country song?

  • God

    @Bdot Rap radar is the Fox News of hiphop they will paint jay z and the east coast in a good light no matter what…. “Buy a kilo from chief keef” – Hov….. Jay z brought drugs from keef who just did a bid and I haven’t seen a YN “Truth” on jay z destory our community ??????

  • How Wonderful…

    I agree wit Jay is a fraud. Downtown Brooklyn is so different now. The hipsters run brooklyn. The hipsters are in east Flatbush Crown heights and bed stuy. Sadly all the poor people Hav been pushed out of their homes

  • SayItAin’tSo

    And why is Bdot always getting trampled upon by MacDiesel on his home turf? SMH

    ^

    ALWAYS!!!

  • 2gunnsUp

    Apparently…some dweebs making comments here lack comprehension skills. Clearly its either Roc sports or keep his Nets shares! He stands to make more bread pimping athletes. Smart move!

  • Oj da Cornball

    SMh at giving this dude props on a business move, for which he was praised for always when it was never worth anything.

    dude business always closing and ending this such manner, yet the nut riding for his business acumen is worshipped like no other.
    No wonder you suckers can’t be successful cause you follow his business lol
    Rocawear was only good move, his Vitamin water,

  • brza

    @ eat a D – Agreed.

  • Truth

    Jay owned 1/15 of 1 percent. Look it up. It was great marketing on his part, but not a lucrative investment. Smart move to focus on the new venture.

  • http://kicksaddict.wordpress.com Kicks Addict

    Reblogged this on Kicks Addict l The Official Sneaker Head's Online Magazine & Blog and commented:
    On to the next one.

  • John John

    I don’t get why Jay fans/supporters are consider d*ckriders (pause). There’s no way anybody can say he’s not one of the best rappers that ever did it musically and outside of music. I would understand if he was wack or didn’t accomplish anything throughout his whole career. But he’s been the total opposite. I mean people be acting like there’s been a whole list of other rappers that are way better than him or done more than him. Anyway with the shortest or drought of great rappers these days more people should be so call “d*ckriding” (pause) him!

  • Nickey Black

    Seriously, why do ppl count Jay money?

    Whether its love or hate strive to get yours.

    Make history. Jay made history and raps about his-story.
    Let me read about yours.

  • Reef

    I heard Jay say in a interview with Howard Stern awhile ago that he don’t make a lot of money off of the nets. He said its just something you do when you’re rich because its cool and you get good seats. He only invested 1 million dollars anyway

  • Tango

    ^^^^^^^^^^^Yo dudes are real funny! Debating on how much of a percentage that Jay really owned or didn’t owned. SMH. Don’t you understand rappers aren’t suppose to be owning anything…not theirs own masters….not their own publishing….not their own record label….not their own clothing line….NOTHING! Jay has come a long way and successfully owned a lot of things that other rappers will never ever own successfully. So even if he owned only .00000001% of the team so what. Its still a bigger percentage than what any other rapper owns.

    The real debate should be how is this high school drop out from the projects even doing owning anything at all. If he can do it then maybe just maybe we all can do it too.

  • kush

    He might’ve owned 1/15 of a percent, but damn, he did so much work marketing and developing the brand. He deserved a bigger share. They should’ve, and probably did, give him a bigger cut of the money. They should’ve sold him a few percent for a low price or something. He singlehandedly created a new team and brand.

  • Ra’Nique

    “Would’ve brought the Nets to Brooklyn for free
    Except I made millions off it, you fuckin’ dweeb”…

    We all know Mr. Carters’ always throwing “Subs”… As a former Bulls fan, now riding with my hometown Nets… Its kinda hard to decipher who this “Dweeb” is. As a so called “appreciated fan”, I think this should of been more clear n cut Mr. Carter, since:

    “It’s been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christophe Charlier, ONEXIM Sports and Entertainment, Brett Yormark and all the wonderful people involved in making the Nets first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the Nets to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team.”

    Or maybe this is just you not burning your bridges with the organization since you are a “Business Man” not a “businessman”…. hmmmmm????
    Non the less Mr. Carter make your paper i’m definitely not mad at you for that, but best believe, with or without you Mr. Carter, its still BROOKLYN ALL DAY, its STILL “BROOKLYN WE GO HARD”!!!! and oh before I forget #GONETS & #HELLOPLAYOFFS

  • http://mediaanarchist.com Media Anarchist/Guerilla Blog

    It was a setup from the beginning. Jay was smart enough just to get a slice and help bring revenue to Brooklyn.

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  • Nathaniel

    Tango gets it.

    aside from that, i’m more proud that jay and roc nation sports is about to show plenty of young black millionaires how to expand their brands, build business outside of just throwing basketballs etc around, and how to not end up broke. how to not be wasteful and frivolous with their money. y’all are unimpressed by how wealthy jay is not in comparison to… i don’t know, international bankers. i’m more impressed, and more focused on, who he’s helped win from our communities, and the snow ball effect it has, is, and will continue to have.

    niggas fail to see the bigger picture. that’s a shame.

  • Nathaniel

    @ra’nique

    the “dweeb” is probably all the naysayers. rich or poor. white or black. people throw shade, jay throws shade back while continuing to be productive. some hate it. that “some” should get busy.

  • Danny

    Jay stop stretching the truth fact is you own .1% note the decimal, the owner is Mikhail Prokhorov , the building is Bruce Ratner.

  • http://www.hiphopdx.com/ PsychoBoy

    OH GOD NOT AGAIN EVERY JAY Z POST SMH

  • Converse

    Jayz stay making moves…… salute

  • cheeeese

    @prai$e, Jay is not like Nelly or LL, I doubt we’ll ever hear him on a country song

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