Jay-Z helped bring the Nets to Brooklyn, but he must now leave them behind. In a letter posted on his website Life+Times, the hip-hop mogul confirmed that he has sold his ownership stake in the sports team, but remains a Nets fan forever.
“It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun,” wrote Jay, who still plans to attend the games.
He was forced to sell his investment in the team so that he could pursue his latest venture, Roc Nation Sports, which signed New York Yankees second baseman Robinson Cano as their first client.
“For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets,” said Jay.
Read his full letter below.
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