Rap icon and producer Jay-Z has now offered his shareholdings in the National Basketball Association's Brooklyn Nets for sale in order to focus on the growth and development of his sports representation business. This move was first reported by Yahoo Sports.
Shawn Carter, who uses the monicker Jay-Z owns less than 1% of the team. The sale was necessary in order to obtain the proper certifications as an agent for the National Basketball Players Association. Under NBA rules, no one individual affilated with a player representation firm can have an ownership interest in any NBA team.
One of his first clients is New York Yankees All-Star second baseman Robinson Cano, after he fired agent Scott Boras. He is the first athlete signed under Roc Nation Sports and Creative Artists Agency. The process of partnership is expected to be completed by June.
This is pivotal as Cano becomes a free agent after this Major League Baseball run and the NBA's draft is scheduled for June.
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