Jay Z is selling his minority ownership in the Brookyn Nets to coach Jason Kidd, sources exclusively tell Page Six.
We’re told Kidd will take over Jay’s .067 percent (1/15th of a percent) stake in the team for about $500,000.
The move comes as Jay was forced to sell his Nets shares over a conflict of interest after he started a sports agency, Roc Nation, signing clients including Yankee Robinson Cano and Oklahoma City star Kevin Durant.
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A source told us, “Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him.”
We’re told that, unlike Jay, the coach owning minority shares in the team would not be seen as a conflict of interest.