Haute 100 NY Update: Jay Z Selling Stake in Brooklyn Nets to Jason Kidd

Jay Z is selling his minority ownership in the Brooklyn Nets to head coach Jason Kidd. According to new reports, the 43-year-old hip-hop mogul is unloading his .067 percent stake in the team for approximately $500,000.

“Other owners want to give Jason a part ownership of the team, and urged Jay to sell his shares to him,” a source told the New York Post.

Earlier this year, Jay Z opened a sports agency called Roc Nation, which represents New York Yankees second baseman Robinson Cano, Oklahoma City Thunder forward Kevin Durant and New York Jets quarterback Geno Smith.