Apparently, that may only be the first move in what is an event that could eventually shake up the Brooklyn Nets ownership group.
Per ESPN's Darren Rovel, Jay Z plans on not only presiding over the company, but also becoming a certified agent both in baseball and—yes—basketball.
There is an inherent conflict of interest between being a minority owner of an NBA franchise and being an agent who represents NBA players, and although Roc Nation Sports is still in its infancy, the eventual goal for Jay Z himself is to eventually represent NBA players.
From Darren Rovel of ESPNIn some ways, it is easy to make sense of all of this. Over the past few years, Jay Z has become a very popular personality amongst young NBA players. Lamar Odom once famously referred to him as "our Frank Sinatra," and the "our" referred to the current generation of NBA players.
Sources say Jay-Z himself is planning to be a certified agent, first in baseball and eventually in basketball and football. In order to represent clients in basketball, he would have to give up his small share of the Brooklyn Nets.
Jay-Z has always had a love for sports, but his passion grew through the Nets ownership and his 40/40 high-end sports bar in New York, which over the last nine years has become a hang out for athletes.
The initial launch is with CAA, but Roc Nation Sports will be its own company. Roc Nation currently represents Rihanna, Shakira and Timbaland, among others.
We're not sure if that means that NBA players will flock from the likes of seasoned and experienced agents such as Arn Tellem, Dan Fegan or even Bill Duffy. What we do think it means, though, is that Jay Z's ownership stake in the Nets is probably just as small as it has been rumored to have been, despite his contentions to the contrary.
With the Nets fresh off of a relocation to Brooklyn, the franchise making the playoffs for the first time in years and brighter days ahead, perhaps Jay Z is just deciding to sell high... Or maybe he figures he stands to profit more in the long run by being able to leverage his access and clout with many of the NBA's young stars.
Regardless, this is a very, very interesting story and we're looking forward to it developing.
One thing that we can safely say, though: If this is all true, Jay Z's tenure as an owner of the Brooklyn Nets may be coming to an end.