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September 24, 2009
Jay-Z OUT as Part Owner of NJ Nets As Russian Tycoon Scoops Franchise?
Highbrid Nation
Whither Hova?
However the one party for whom the deal leaves uncertainty is Jigga. Since the deal has yet to be ratified its unclear how Jay-Z interest will be affected. Since he was roughly a 2% minority shareholder on the Ratner team, my inexperience logic would assume along with the sale his percentage too would be liquidated. And although the deal would most certainly mean the Nets would be headed to Brooklyn and increase the chance of the team landing Lebron James it could spell an end to Jay-Z’s dream of “owning” a piece of the first NBA franchise to play its games in his hometown. As I said the details are sketchy and as the press releases and statements come out, I’ll be sure to update the story.
NoLandGrab: Sketchy, indeed. Whether you call him Jigga, Hova, Sean Carter or whatever, there's no reason to think that Jay-Z will be finished as a minority owner. It is likely that his ownership stake, actually less than one percent, will be further diluted, but that stake has always been more about the public relations than the dollars.
Posted by eric at September 24, 2009 10:33 AM