Jay-Z is giving up his minority stake in the Brooklyn Nets to focus his attention on his newest project, Roc Nations Sports, a new agency to represent top athletes.
Despite this career change, Jay-Z promises to always be a Brooklyn Nets fan.
“Being a member of the Nets organization surpassed some of my greatest ambitions,” he said in a statement posted to his website. “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.”
With his new endeavour, Jay-Z hopes to take his expertise in branding musicians to the sports world.
“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.”
Jay-Z himself has already applied to be a certified agent with the Major League Baseball Players’ Association. Roc Nation Sports also just announced that they signed Robinson Cano, a New York Yankees second baseman.