Jay-Z had no choice to relinquished his ownership of the Brooklyn Nets. He finally confirmed on Thursday that his financial interest in the club had ended after ten years with the following statement.
“Being a member of the Nets organization surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn.”
Jay also spoke about getting into sports management which is why he had to relinquish ownership of the team because of the conflict of interest. “Our newest endeavour is committed to building the brands of professional athletes as we have done for some of today’s top music artists. For Roc Nation Sports to function at its full potential, NBA rules stipulate that I relinquish my ownership in the Brooklyn Nets. It was a tough decision but as I stated earlier, it’s not about ownership. I will always be a Brooklyn Net.”