It's baffling how many people are so misinformed. What he's doing is no different to the Kroenke family in Denver. Stan Kroenke sold the Nuggets to his son Josh so he can buy the Rams in the NFL. Stan still has 100% input into Denver but he simply cannot officially own the franchise while he owns the Rams.
Jay-Z will still have the same role but he simply will not have shares in the the team. The logic that all of a sudden, Jay is walking away and will never be apart of the Nets again is just hilarious.
Especially when he still keeps stake in Barclays. He put his pride on the line to make the brand work despite the NBA not being in favor or Black/White.
Why would Jay walk away from the 4th most popular merchandised team in the league? He took business venture over his stake. If he could, Iím sure he would love to get it back. Itís not even out of the question, he could sell it to Beyonce and keep the investment going now that there is profitability coming out of it.
Finally someone with some fu*king sense. He has equity in the Barclay's Center. That's worth MORE than a stake in the team - concerts, events, sports, everything that is held at the Barclay's Center he's a part of. Smart business move. This is why he's at the top of his game not just in rap music.
"I can park in my own arena