Rapper Jay Z is reportedly selling his minority stake in the Brooklyn Nets basketball team to the side's head coach Jason Kidd for USD 500,000.
The 43-year-old 'Holy Grail' singer needed to sell his share after forming his own sports agency, Roc Nation, which began to sign up popular players leading to his two business ventures being deemed a conflict of interests, reported Contactmusic.
"Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him," a source said.
Jay Z first got involved with the Nets, previously known as the New Jersey Nets in 2003.
Even though he had a small share, he actively participated in functioning of the club by helping design the team logos and choosing the Nets' stark black-and-white colour scheme.
