Jay Z Sells Nets: Rapper Confirms His Job WIth Brooklyn Nets is "Over"
After Jay-Z brought the Nets from New Jersey to his hometown in Brooklyn NY, the rapper officially confirmed that he is dropping his share in the NBA team to embark in a new profession as a sports agent.
Rumors swirled last week when the Watch The Throne rapper released a diss track entitled, Open Letter, in which he addressed the controversy surrounding the NBA team.
"Would have brought the Nets to Brooklyn for free, except I made millions off of you f-cking dweeb/I still own the building, I'm still keeping my seats," he rapped.
The rapper issued a statement on Thursday via his LifeandTimes website confirming the split from the Nets.
"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," the statement read.
The rapper said that his company, Roc Nation is moving on to bigger and better things.
"Our newest endeavor is committed to building the brands of professional athletes as we have done for some of today's top music artists."
He explained that the decision to break from the Nets was a difficult decision, but was forced to do so since NBA rules are such.
The Nets, who are entering the NBA playoffs for the first time since the 2006-2007 season will play the Chicago Bulls in the first round on Saturday.
"Congratulations to The Nets on a great season and making the playoffs! I will always be a Brooklyn Net," the statement read.
A Yahoo! Sports report indicated that the rapper will partner with Creative Artists Agency (CAA) on his new venture.
Nets interim coach, P.J. Carlesimo, who took over after Avery Johnson was fired said that he would be disappointed if Jay Z left the team. "He had an enormous amount to do with the rebranding of the team. I wasn't close to it at all, but from what I've seen, it would be hard to overstate his importance in this all," he told ESPN.
