News

How Much Of The Brookyn Nets Does Jay Z Really Own?

image

Nowadays for hip hop artist, bragging and flaunting wealth is part of the job description. If a rapper raps about the liquor that he’s drinking, it’s not uncommon for him to own a stake in that brand or have an endorsement deal with them. If a clothing line is mentioned in a song, more than likely it’s owned by the rapper who mentioned it. Ownership in hip hop gives the artist bragging rights, and no hip hop artist has more bragging rights than Shawn “Jay-Z” Carter,the man connected to Roc-A-Fella, Rocawear, Reebok, Armadale Vodka, and countless other endorsement deals. Which brings us to the Brooklyn Nets. We all saw Jay-Z in the pictures for the ground breaking of the Nets’ Barclays Center. We also know that he helped design the new team logo. But how much of the Nets does Jay-Z really own? According to the New York Times “All told, he has achieved a remarkable feat of leverage with his tiny sliver of the team, which was reduced from one-third to one-fifteenth of a percent upon Mr. Prokhorov’s purchase of the Nets, according to people aware of the deal terms.” Mr. Carter does own one-fifth of a percent of the Barclays Center. The arena will contain a 40/40 Club and a Rocawear store. The Nets will also use Translation, the advertising agency half owned by the rapper.

Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

The Latest

To Top