Posted: 2:13 a.m. Thursday, Sept. 19, 2013
By Rachel McRady
It’s the end of an era. Well, a super short era, but still. Jay Z is about to split from “The House That Hova Built.” According to Forbes, the Brooklyn rapper is set to sell his stake in the Barclays Center for $1.5 million.
HOVA was forced to sell after starting Roc Nation Sports, his new sports agency, which directly conflicts with the Brooklyn Nets, the basketball team that calls the Barclays Center home.
In reality, Jay Z only has one-fifteenth of a one percent stake in the Nets, which he sold to coach Jason Kidd for $500,000. He also owns slightly less than one-fifth of one perfect of the Barclays Center, which he should receive $1.5 million plus for.
Jay Z grew up in Brooklyn in the Marcy Projects neighborhood and often references his rise from the bottom in his music. His stake in the Barclays Center was always a major source of pride for the rapper.
"The story is that a black kid from a single parent house made it from [the Marcy Projects] from about six minutes away from here,” Jay said at the Barclays Center opening concert. “So the fact that I have any ownership in this franchise is f—king amazing. The fact that I have any ownership in this venue is f—king amazing. Don't let them diminish your accomplishment or dim your shine."
Are you surprised that Jay was willing to give up his stake in the Barclays Center for his new sports agency? Tell us below!Source: Forbes