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August 30, 2012
Jay-Z: the “million” problem
Meadowlands Matters [NorthJersey.com]
by John Brennan
The interest by Jay-Z in the Nets dates back at least to November 2003, according to my story archives, and likely goes back up to six months before that.
And for most of that time, the rap mogul has been described as a “part-owner” of the [now Brooklyn] Nets.
I’d already known that the Nets actually have more than 100 owners, and that most of them own just a tiny sliver. I suspected the same was true of Jay-Z, perhaps 1 percent or so.
...Yet for me, a core question remains – if Jay-Z really did pay $1 million for a share that now amounts to one-15th of one percent, why did he?
...Perhaps Jay-Z wasn’t as shrewd back in 2003, although he was a huge star by the late 1990s.
But I’d still love to see a copy of that million-dollar check. Just saying.
Posted by eric at August 30, 2012 9:44 AM