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Jay-Z Reportedly Selling His 0.067% Stake In The Brooklyn Nets To New Coach Jason Kidd

Tony ManfredSep 4, 2013, 18:49 IST

REUTERS/Steve MarcusJay-Z had to sell his stake in the Brooklyn Nets in order to become a certified NBA agent when he started Roc Nation Sports last spring.

According to Page Six, he ended up selling that stake to new head coach Jason Kidd.

The stake is worth $500,000, which works out to 1/15th of 1% of the team.

While Jay owned a tiny sliver of the Nets, he was central in the team's branding once it moved to Brooklyn. He reportedly helped design the jerseys and the luxury boxes at the Barclays Center.

This is Kidd's first coaching job after retiring in June.