Jay-Z Wanted His Ownership Percentage Of Nets Kept Under Wraps

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Props Slaps
 08-28-2012, 01:18 PM         #1
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s7venwords 
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Jay-Z Wanted His Ownership Percentage Of Nets Kept Under Wraps
 

 

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by Kazeem Famuyide (@RealLifeKaz) August 28, 2012, 15:12pm

A few weeks back in the New York Times, a pretty revealing piece was released on Jay-Z that had to do with how well the rapper/mogul maximized his minimal investment in the Brooklyn Nets. Among the facts revealed was that the $1 million investment Jay-Z orginialy gave to the Nets amounts to just one-fifteenth of one percent of the franchise.

It was also revealed that someone at the NBA didn't think the Nets' black jerseys would look good on black people, and that the Barclays Center will have a Rocawear store, a 40/40 Club, and a champagne bar that sells his Armand de Brignac (Ace Of Spades, for you rappity rap guys).

Although the piece came out pretty glowing for the Carter Administration, it was revealed by David Halbfinger, the reporter of the story, that Jay-Z wanted absolutely nothing to do with the story. "I didn't pitch them about wanting to know how much he owned. It was clearly one of the questions I had but it was not like I was leading with my chin," said Halbfinger.

"I wasn't like, 'Hey, I'd really like to ask Jay-Z exactly what his partnership stake is and while you are at it can you tell me his address and phone number?' I would argue with you on the notion of whether it undercuts his right to brag. In a way, you could brag that you had a larger piece of the Nets or you could brag that you've turned so much less of a piece of the Nets into so much more in perception. The judo involved in image-making and promotion and perception is reality that he has achieved with such a little percentage is something more to brag about than just putting on a larger chunk of change or having a larger percentage."

As Halbfinger explains, Jay-Z invested $1 million and that was out of a $300 million purchase price. That's one-third of one percent. A percentage that was even lowered with Mikhail D. Prokhorov purchase of the Nets. It essentially squeezes down the 100 percent of all the other people into 20 percent. Don't know what you call that in the business world, but in hustling that's called making a dollar out of 15 cents.


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 Jay-Z Wanted Ownership Percentage Of Nets Kept Under Wraps | Hip-Hop Wired

164 comments for "Jay-Z Wanted His Ownership Percentage Of Nets Kept Under Wraps"

 08-28-2012, 01:24 PM         #2
deLeet  OP
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the % was well known when he became an owner years ago..... Its been so long i guess, anything jay-z content sells
 08-28-2012, 01:26 PM         #3
s7venwords  OP
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 GameTheory said:
Yeah right.

He knew damn well he didn't want to be exposed for flexing.

Dude is still winning though. That expose must have been a shot to his ego though.
Hell yeah it was a blow, owning one-fifteenth of one percent is not owning the team it's going in with a sh*t load of other people. He got caught as you said flexin' his minor investment. I laughed when I found out it was only one-fifteenth of one percent.
 08-28-2012, 01:34 PM         #4
J-Dogg  OP
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Hov is smart, though, he'll flip it and talk about making something out of nothing.......I thought it was always widely known that he only owned a small sliver of the Nets, though?
 08-28-2012, 01:41 PM         #5
s7venwords  OP
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 J-Dogg said:
Hov is smart, though, he'll flip it and talk about making something out of nothing.......I thought it was always widely known that he only owned a small sliver of the Nets, though?
Of course it's smart to diversify your $. But he was talkin' like he owned the team.
 08-28-2012, 01:52 PM         #6
Dos-effect  OP
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Regardless of his ownership he was the one who moved the team to Brooklyn.....his pecentage might be small but his influence is apparently priceless.
 6 years ago '07        #7
r.burgundy 16 heat pts16
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 s7venwords said:
Of course it's smart to diversify your $. But he was talkin' like he owned the team.
1 15 of a % is still a percent.he always was and will be a minority owner.and just investin that 1 mil,he will turn his profit much quicker bein that he has a 40/40,and a rocawear store in there.thats winnin big time in business
 08-28-2012, 02:04 PM         #8
the synthesis  OP
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Kanye thought Jay owned 50% and could drop Kim's ex from the team...

Jay mustve have been frontin for Ye to believe that
 08-28-2012, 02:05 PM         #9
Sam Rothstein  OP
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 08-28-2012, 02:20 PM         #10
the synthesis  OP
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 Flying Jesus said:
he's still the face of the nets .....while the russian guy handles the real business behind the scenes.

but he is an important factor in the grand scheme of things...i mean how many people are net fans now just because they think jay owns the team ?

and those brooklyn new eras and jerseys are gonna sell like hot cakes because of him.
Jay doing all the hardwork while the Russians get paid, he should get a 30% stake at least

White Manz World
 6 years ago '06        #11
Big Bear 20 heat pts20
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Nas..

is it tru he own rock the bells
 6 years ago '06        #12
Big Bear 20 heat pts20
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SSorry but we know you can't have a jay z thread with out bringing up Nas name
 6 years ago '06        #13
Big Bear 20 heat pts20
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 the synthesis said:
Kanye thought Jay owned 50% and could drop Kim's ex from the team...

Jay mustve have been frontin for Ye to believe that
I would think Mr.west knew
i think he didn't think the public knew
and he was just being funny with rap
 6 years ago '08        #14
JetsLost 18 heat pts18
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 the synthesis said:
Jay doing all the hardwork while the Russians get paid, he should get a 30% stake at least

White Manz World
Jesus Christ. You can't be that dumb.
 6 years ago '05        #15
WCIB 116 heat pts116
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This is BS. I've known for years how much he owns of the Nets and so did many other people...
 6 years ago '11        #16
XxHeAtMaKeRxX 30 heat pts30
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Lucky I ain't have Jay drop him from the team
 6 years ago '06        #17
Big Bear 20 heat pts20
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 WCIB said:
This is BS. I've known for years how much he owns of the Nets and so did many other people...
I didn't and nobody i know didn't also.
we don't research things that doesn't matter. i didn't know till this article came out.

i would guess most people out of message boards didn't know this

indeed
 6 years ago '04        #18
bigjoshi2002 12 heat pts12
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It sounds better to say he's part owner of the team instead of saying he's just a token black they use to promote the nba to the hip hop culture.
 6 years ago '04        #19
GarySanchize24 239 heat pts239
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the boxden nets fans have more say over the Nets than Jay :jayhah2:
 08-28-2012, 02:59 PM         #20
tommyg  OP
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 bigjoshi2002 said:
It sounds better to say he's part owner of the team instead of saying he's just a token black they use to promote the nba to the hip hop culture.
. Jay-z not even a small player though. He's a huge name with much influence to the masses. More so than any of the other owners. His stake might be pinched, but his influence is greater than the rest
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