Jay-z Begins Paperwork To Give Up "Ownership" of Nets

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 5 years ago '05        #121
Nickel 118 heat pts118
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 nxtiq said:
"But Jay-Z may have already found a work-around. Though he once owned as much as 1.5% of the $530 million team, his stake has dwindled to one-fifteenth of one percent. Why? Jay-Z's representatives didn't immediately respond to a request for comment, but it seems he may have converted the difference into equity in the Barclays Center. He now owns roughly one-fifth of one percent of the billion-dollar building. Given that his remaining stake in the Nets is worth about $350,000--comprising less than 1% of Jay-Z's net worth--it's no longer a financially significant sum to the rapper or the team. Jay-Z could easily sell his stake back to billionaire owner Mikhail Prokhorov or trade it for more equity in the arena itself. Either way, his existing interest in the Barclays Center would allow him to keep profiting from the Nets' success while staying within the NBA's rules. Knowing Jay-Z, that was probably his plan all along."(Forbes)

 deLeet said:
On to the next one
"Hustle caine hustle clothes I hustle music...but Hustle Hard in any hustle that you pick"
 5 years ago '11        #122
Da Truth23 91 heat pts91
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Damn I never wanted to say this but Knicks won and Nets lost.... Black and white my n*gga we off that YOUNG
 5 years ago '04        #123
CoconutCoke 6 heat pts
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 1andonlyKingP said:
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."
 5 years ago '04        #124
D. Norman 6 heat pts
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 04-10-2013, 11:39 AM         #125
JohnDoe B1 
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 Dee Grande said:
@ "beginning paperwork". he only owns $10 worth. just write "i quit" on a napkin
 Jacc Blacc said:
dude bought them shares for a million will turn around and sell them for 10 million......jay a businessman, he ugly as fukk and overrated as a rapper and he got ethered by nas and drops weak albums BUT he a businessman....wonder if lebron will sign with him as his agent



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Last edited by JohnDoe B1; 04-10-2013 at 11:41 AM..
 5 years ago '05        #126
A-N-D-1 177 heat pts177
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 maxnn said:
fu*k all of you, Jay Z owned .0000000000000000000000000000000000001 of the team anyway.

But how much did he make off of that little %? That % gave him access to so many things. Doesn't he have a club in the arena? Didn't that % give him more access to the arena for concerts etc? that % gave him more access to the players allowing him to build relationships. As the saying goes...
































The winner is HOV!!!
 5 years ago '06        #127
Bk's Finest 
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 Venom said:
that .06538%
Word, let em know.
 5 years ago '04        #129
doro85 2 heat pts
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On to the next 1
 5 years ago '05        #130
JuiceDigaho 
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obviously his "ownership" was a promotional tool for the team as they made the move to his native BK


Move is done, not much left to do here.......on to the next one
 5 years ago '04        #131
DJ Maximum|M 47 heat pts47
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Jay the goat....
 5 years ago '10        #132
aka ReeSe 6 heat pts
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 Dee Grande said:
@ "beginning paperwork". he only owns $10 worth. just write "i quit" on a napkin
 04-10-2013, 03:39 PM         #133
Ninobrown12 
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Jay was just d!ckriding the nets like damon dash,kanye,dmx,irv gotti,biggie. damit man
 5 years ago '06        #134
trey2cool 
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 Dee Grande said:
@ "beginning paperwork". he only owns $10 worth. just write "i quit" on a napkin
 5 years ago '04        #135
jtt11219 
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The Nets....
 5 years ago '04        #136
strahan2004 40 heat pts40
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 Dee Grande said:
@ "beginning paperwork". he only owns $10 worth. just write "i quit" on a napkin
"Jay-Z only owns .067 percent of the NBA club which was estimated to be worth $312 million..."



Yeah, just write it down on a napkind...
 04-10-2013, 05:33 PM         #137
bbrossy313 
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 Armen87 said:

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oh boy bk dudes will be hating u n the near future
 5 years ago '08        #138
iPunish901 12 heat pts12
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 Armen87 said:

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 5 years ago '10        #139
Alerts 221 heat pts221
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Watching Sportsnation and they said he owns 1/15 of 1%
 5 years ago '05        #140
A-N-D-1 177 heat pts177
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 strahan2004 said:
"Jay-Z only owns .067 percent of the NBA club which was estimated to be worth $312 million..."



Yeah, just write it down on a napkind...
when you calculate that out to money his .067% >>>> than the $1 Million he initially he invested!!! So the winner is _________





















































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