What NBA Team Does Jay Z Own?
Jay Z is one of the most successful rappers and businessmen in the world. So it’s no surprise that he also owns a basketball team. But what NBA team does Jay Z own?
The Brooklyn Nets
Jay-Z’s ownership stake in the Brooklyn Nets
Jay-Z is one of the co-owners of the NBA’s Brooklyn Nets. He owns a minority stake in the team, which he purchased in 2004 for $4.5 million. The team was then known as the New Jersey Nets and played their home games in New Jersey. In 2012, the team moved to Brooklyn and changed their name to the Brooklyn Nets. Jay-Z played a role in the move to Brooklyn and the rebranding of the team. He also designed the team’s new logo.
The value of the Brooklyn Nets
The Brooklyn Nets are currently worth an estimated $2.5 billion, according to Forbes. This makes them the seventh most valuable NBA team. The Nets were purchased by Mikhail Prokhorov in 2010 for $365 million. At the time, they were the most expensive NBA team ever sold. Since then, the value of the Nets has skyrocketed.
The New Jersey Devils
The New Jersey Devils are a professional ice hockey team based in Newark, New Jersey. They are members of the Metropolitan Division of the Eastern Conference of the National Hockey League (NHL). The Devils have been in the Stanley Cup Finals five times, winning in 1995. They are one of three NHL teams in the New York metropolitan area.
Jay-Z’s ownership stake in the New Jersey Devils
In 2013, rapper and entrepreneur Jay-Z became a part-owner of the New Jersey Devils, becoming the first rapper to own a stake in an NBA team. He joins a very small group of African-American majority owners in the NBA.
The Devils are a professional ice hockey team based in Newark, New Jersey. They are members of the Metropolitan Division of the Eastern Conference of the National Hockey League (NHL). The franchise was founded as the Kansas City Scouts in Kansas City, Missouri, in 1974.
The value of the New Jersey Devils
Jay-Z’s reported purchase of a minority stake in the New Jersey Devils values the NHL franchise at $625 million.
That is a significant increase in value from the $155 million worth placed on the team by Forbes in September, just before the start of the NHL season.
The Devils are now worth more than double the $306 million that Forbes valued them at in 2011. The magazine listed the Devils’ revenues at $212 million and operating income at $8.6 million for the 2013-14 season.
The Roc Nation Sports Agency
Jay Z’s Roc Nation Sports Agency has been in the news a lot lately. The agency represents some of the biggest names in the NBA, including Carmelo Anthony and Kevin Durant. Jay Z himself is a minority owner of the Brooklyn Nets. So, what NBA team does Jay Z own?
Jay-Z’s ownership stake in the Roc Nation Sports Agency
Jay-Z’s Roc Nation Sports is an American sports management company. It was founded in 2013 by Jay-Z and currently has offices in New York City, Los Angeles, London, and Chicago. The company represents clients in the NBA, NFL, MLB, NHL, MLS, and WNBA. Jay-Z owns a minority stake in the company.
The value of the Roc Nation Sports Agency
Founded in 2013 by Jay Z, the Roc Nation Sports Agency is one of the relatively new kids on the block when it comes to sports representation. Nevertheless, they have already made a huge impact in the industry, represents some of the biggest names in sports, and are valued at over $200 million.
Roc Nation Sports Agency’s clientele includes some of the biggest names in baseball, basketball, football, and boxing. Notable clients include Robinson Cano, Kevin Durant, Kyrie Irving, C.C. Sabathia, Dez Bryant, Yasiel Puig, Ndamukong Suh, Miguel Cotto, and Andre Ward.
The Roc Nation Sports Agency has quickly become one of the most powerful forces in sports representation. They are currently ranked #3 in MLB (behind only Creative Artists Agency and Excel Sports Management), #2 in NFL (behind only Creative Artists Agency), and #5 in NBA (behind only Wasserman Media Group, CAA Sports, BDA Sports Management, and Elsewhere Partners).
