Why is Jay-Z selling the Nets (or at least his small part of the team)? Easy–the man wants to get into a different aspect of the basketball business (he may not have 99 problems but it appears like his team is one).
Rapper and business mogul Jay-Z (otherwise known as Shawn Carter) has been a minority stake holder in the Brooklyn Nets. However, since he wants to expand his new sports agency, Roc Nation, to include NBA players he will have to sell. NBA regulations prohibit anyone with ownership in a team from representing players or potential players.
The process of divesting his less than one percent stake is not expected to take long, and should be done in time for the draft in June. Representatives of the new sports agency say that is not a requirement and that they are looking more towards the long term implications of expanding into the NBA....
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