Jason Kidd is buying a small ($500,000!!) share of the Nets even though he is their coach.
It’s legal for the coach to do this.
But Jay-Z who is doing the selling, has to let go of his small % ownership of the nets. WHY?
Well now he has become an officially licensed Sports Agent he can’t hold an interest in any team.
The NBA keeps a close watch on all of this and they have to approve the sale.
But it’s extremely unlikely they will nix Kidd’s deal and Jay-Z you seems to have made a profit. The video says his share is worth about $300,00 and Kidd is forking out more than that? I thought these guys are good friends? LIKE to enjoy the complex politics of NYC sports team ownership.