Jay Z to Sell Off Barclay’s Stake
By Oladunjoye Opeyemi
American Rapper,Shawn Carter,who bought into Stakes of the Brooklyn Nets in 2004 to become a minority owner, and was heavily involved in the basketball team’s move from New Jersey to Brooklyn, has started to sell of his shares in the Barclay’s centre.
Having started his own Agency,Roc Nation Sports,with signings like Robinson Cano, Kevin Durant and Victor Cruz, the Entertainment and Business mogul is suspected to be offloading his Barclays stake after he sold his one-fifteenth of one percent to head coach Jason Kidd for $500,000.
Jay Z owns a little less than one-fifth of one percent of the venue, a stake that’s currently valued at about $1.5 million (the whole venue has a potential worth of $741 million).
Forbes say that Jay Z’s share could be worth much more due to the overwhelming success of the Brooklyn venue. Roc Nation however disputed Forbes’ report, though the company didn’t indicate which part ,whether he is selling his share and just getting less Or he is not selling at all.
Jay Z who has fallen under much criticism, as many say he exaggerates his importance and ownership in the franchise has said “It doesn’t matter what percentage,” he said while performing at Barclays as the venue was christened.
“The story is that a black kid from a single parent house made it from [the Marcy Projects] from about six minutes away from here. So the fact that I have any ownership in this franchise is f–king amazing. The fact that I have any ownership in this venue is f–king amazing. Don’t let them diminish your accomplishment or dim your shine. It’s f–king amazing.”
