After he retired last season as a player from the NBA, Jason Kidd was selected to lead the Brooklyn Nets as the Head Coach.
He will lead a team that includes Deron Williams, Joe Johnson, Paul Pierce, Kevin Garnett, Brook Lopez and other young talent like Mason Plumlee and Tyshawn Taylor.
It’s going to be exciting to see Kidd in a suit and tie on the sidelines coaching players he was going up against just last season as a player. However, Kidd isn’t only going to be the Head Coach of the Nets.
Earlier today, the New York Post reported that Jason Kidd will buy half of Jay-Z’s minority share in the Nets. Jay-Z was a minority owner who owned 1.6% of the Nets. Kidd reportedly paid Jay-Z $500,000, thus having approximately 0.8% ownership in the team.
The league told Jay-Z to sell his share in the team because of his recent move into the agency world. Jay-Z is now a sports agent and as a licensed agent isn’t allowed to have ownership in a team, per NBA rules.
Kidd’s purchase of minority ownership of the team shows how much he is investing in the Nets (pun intended).