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January 31, 2007
Jay-Z to boycott Barclays?
The online Hip-Hop news media has gotten hold of the Barclays story in reference to NJ Nets minority shareholder Jay-Z (nee Shawn Carter), who recently spearheaded a boycott against the pricey champagne Cristal.
At issue are the international banking giant's roots in the slave trade and the boycott of the bank in the '80s that forced the corporation to divest in apartheid South Africa.
Reactions in the comments section range from, "Hypocrite!" to, "Get over it, already."
Here's a sampling:
TMZ.com, Jay-Z's Team Nets $400M from Ex-Slave-Trade Co.
Will Jay-Z boycott his own team -- the New Jersey Nets -- for taking $400 million from a bank that some say was built on profits from the slave trade?
... Since then, Jay-Z (real name: Shawn Carter), who owns less than one percent of the team, has declined to comment. His his rep told TMZ that there would be no statement given or action taken by Carter. The rapper has a history of boycotting: Last year, he stopped drinking and serving Cristal champagne after an executive with Cristal's producer made disparaging remarks about rappers and their affinity for the bubbly.
MemphisRap.com, Slave trade profits may fund Jay-Z's New Jersey Nets' Brooklyn arena
Two black supporters involved with the project questioned and scolded the owner and real estate developer about the project which is estimated at $4 billion dollars and which would include the selling of the sports venue naming rights to the Barclays.
"This agreement is insensitive and offensive," Assemblyman Hakeem Jeffries told the Daily News. "All options should be on the table, including terminating this deal."
Hip Hop DX, Jay-Z Works With Slave Owners?
Jay-Z, part owner of the New Jersey Nets, announced recently that the new arena for the team will be built in Brooklyn, his hometown. The arena's naming rights were purchased by Barclays, a UK-based bank, paying $400 million for 20 years. Just after the January 18th announcement though, local politicians and journalists criticized the team and its majority owner, Bruce Ratner, for taking money from a bank whose founding family profited from their ownership of slaves in the 18th century and their involvement with the South African government in the 1980s.
Posted by lumi at January 31, 2007 7:50 AM