Jay Z with Brooklyn Nets owner Mikhail Prokhorov
Shawn Carter, otherwise known to the world as Jay Z is a living embodiment of The American Dream. Beginning his journey on the rough streets of Brooklyn, New York, he soon navigated himself from hip hop artist to all round business mogul. Only recently was it revealed he had made it onto The 2013 Time 100, the prestigious magazine's annual list of the 100 most influential people in the world, even gracing one of their specially designed covers. If this was not enough, there was an announcement that he, along with his superstar wife Beyonce, are now officially popular music's first billionaire couple. Oh yeah, it's good to be Jay Z.
Throughout his career he has never lost his love for his block (the borough of Brooklyn) and has shown this in many ways. One major example was when he was approached to invest in the US basketball team The New Jersey Nets. What swung the deal was learning that the team (lock, stock and barrel) would re-locate to Brooklyn, with a brand new arena to boot. This new home, The Barclays Center, would not only host basketball games but also other major events including shows by world class entertainers such as Barbra Streisand, The Rolling Stones and of course, Jay Z himself. On top of his other achievements, Jigga was now part owner of an NBA basketball team. He had achieved what he himself would have thought unreachable when he first started to spit rhymes.
Throughout his career he has never lost his love for his block (the borough of Brooklyn) and has shown this in many ways. One major example was when he was approached to invest in the US basketball team The New Jersey Nets. What swung the deal was learning that the team (lock, stock and barrel) would re-locate to Brooklyn, with a brand new arena to boot. This new home, The Barclays Center, would not only host basketball games but also other major events including shows by world class entertainers such as Barbra Streisand, The Rolling Stones and of course, Jay Z himself. On top of his other achievements, Jigga was now part owner of an NBA basketball team. He had achieved what he himself would have thought unreachable when he first started to spit rhymes.
Jay Z's 'Time 100' cover
Now comes word that Jay Z is to sell his share of the Brooklyn Nets. Ever the businessman and moving forward, at the beginning of April he founded a new company called Roc Nation Sports, a joint venture with Creative Arts Agency. The National Basketball Association rules stipulate that agents cannot represent professional athletes and also have a stake in a team. Therefore, if Jay wishes to be certified as an agent for the NBA, he must relinquish his stake in the Nets.
Last week he made an official statement, "Being a member of the Nets organisation surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan has just begun. I'm a Brooklyn Net forever. It's been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christope Charlier, ONEXIM Sports & Entertainment, Brett Yomark and all the wonderful people involved in making the NETS first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the NETS to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team."
Jay Z's stake in the Nets has been valued at around $350,000 and the word is he has transferred some of his Nets ownership to the Barclays Center, of which he now owns 0.02%. This works out roughly that the Brooklyn kid now has a $2 million piece of the billion dollar complex. Looking at Jay's incredible story so far, my thoughts run to the tagline from Al Pacino's gangster classic flick, 'Scarface'. "He loved the American Dream with a vengence". Only in Mr. Carter's case, this was all achieved by legal means. You've come a long way, baby!
Last week he made an official statement, "Being a member of the Nets organisation surpassed some of my greatest ambitions. It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan has just begun. I'm a Brooklyn Net forever. It's been an honor to work with Mikhail Prokhorov, Dmitry Razumov, Christope Charlier, ONEXIM Sports & Entertainment, Brett Yomark and all the wonderful people involved in making the NETS first class. My sincerest thanks goes to Bruce Ratner, who first introduced the idea of moving the NETS to Brooklyn. A thank you and deepest appreciation goes to the fans. You are the lifeblood of any team."
Jay Z's stake in the Nets has been valued at around $350,000 and the word is he has transferred some of his Nets ownership to the Barclays Center, of which he now owns 0.02%. This works out roughly that the Brooklyn kid now has a $2 million piece of the billion dollar complex. Looking at Jay's incredible story so far, my thoughts run to the tagline from Al Pacino's gangster classic flick, 'Scarface'. "He loved the American Dream with a vengence". Only in Mr. Carter's case, this was all achieved by legal means. You've come a long way, baby!
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