Jay Z Sells His Stake In Brooklyn Nets

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September 4, 2013 | 11:14am EST

Rapper Jay Z is selling his stake in basketball team Brooklyn Nets to coach Jason Kidd.
The 99 Problems hitmaker, who was introduced to the team in 2003, will be signing off his 0.67 per cent ownership to Kidd for around $500,000 , according to New York Post gossip column Page Six.
The star, real name Shawn Carter, has been forced to sell his stake over a conflict of interest after he formed his own sports agency, Roc Nation Sport, earlier this year.
A source says, “Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.”