Jay Z had to sell his stake in the Nets in order to become a certified NBA agent when he started Roc Nation Sports last spring.

According to Page Six, he ended up selling that stake to new head coach Jason Kidd. The stake is worth $500,000, which works out to 1/15th of 1% of the team.

While Jay owned a tiny sliver of the Nets, he was central in the team’s branding once it moved to Brooklyn. He reportedly helped design the jerseys and the luxury boxes at the Barclays Center.

This is Kidd’s first coaching job after retiring in June.

  • Big ALbert

    It’s a win-win. Kidd is probably the greatest Nets player ever.

  • 1/15th of 1% for 500 thousand. Im surprised thats all the stake Jay-z had for a he did.That means the team is valued at 750 million if my math is right.

  • Pose

    I thought that jay’s stakes was more than that…. I guess it is not always about the money.