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Jay-Z owns less than one percent share of Barclays Center and will make a good amount of money once he sells it. Not too long ago, he already sold one-fifteenth of his one percent ownership to Brooklyn Nets’ coach Jason Kidd. Jay-Z has become a sports agent after opening up his new agency, Roc Nation Sports. It hosts notable stars like Kevin Durant of the Oklahoma City Thunder, Victor Cruz of the New York Giants and Robinson Cano of the New York Yankees. In order for him to be a sports agent, he had to get rid of his ownership of the Brooklyn Nets.
Jay-Z owns less than one-fifth of one percent of the Barclays Center, which is worth about $741 million.
According to Forbes, Jay-Z’s share of Barclays Center is worth up to $1.5 million, but he could earn more because the arena’s success.
Barclay’s center is home to the Brooklyn Nets of the NBA. It became the top grossing venue in America through the first half of 2013.
Boxden explains that Jay-Z’s sale to Jason Kidd is the second highest price paid for any NBA team. This comes after Vivek Ranadive sold his share in the Golden State Warriors for $800 million so that he could buy the Sacramento Kings.
Jay-Z is very intelligent, was able to successfully turn his small stake in an area into a fortune and now he can hope for more success while running his new sports agency. It will be interesting to see what future business ventures he will find himself in.
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