Jay-Z’s foray into the NBA agent business can now officially commence.
Sports Business Journal reported Monday that the rap mogul had presented the National Basketball Players Association with sufficient information to prove he had divested from his small ownership stake in the Nets, making him eligible to negotiate contracts for NBA players.
The Post’s Page Six first reported earlier this summer that Jay-Z chose to sell at least part of his share of the team’s ownership to new head coach Jason Kidd, the franchise’s greatest player in its NBA history and who will have his No. 5 jersey retired by the team at a ceremony prior to the Nets’ preseason game against the Heat in Brooklyn on Oct. 17.
Kevin Durant became the first high-profile NBA player to join Jay-Z’s fledgling agency, Roc Nation Sports, earlier this summer. The agency has also picked up Yankees star Robinson Cano this season, who will be one of the most coveted players in free agency this offseason, assuming that he hits the open market.