Jay Z to sell shares in Brooklyn's Barclays Center
The life of a businessman is beset by regulations, and a new sports agency venture means Jay Z is having to sell his stake in the Barclays Center venue.
The Brooklyn rapper’s role in Roc Nation Sports, an athletes’ representational body, means that the continuation of his stake in the arena – which is the home of the Brooklyn Nets basketball team – would be a conflict of business interests. Hova sold his shares in the Nets earlier this year, and released a statement on the matter stating that his involvement was never merely about “an investment.”
Pitchfork estimated the rapper’s Brooklyn Center shares are around the 0.25% mark, which would still be expected to fetch a nifty $1.5million.
Of Roc Nation Sports, he said that it was ”committed to building the brands of professional athletes as we have done for some of today’s top music artists.” As expected, Oklahoma City Thunder forward and 2012 Olympian Kevin Durant was added to the agency’s books in June.
The Jigga man will no doubt want to set his affairs in order before embarking on a North American tour this November, which will see him stop by his home borough to play two consecutive nights at the Barclays Center.
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