Jay Z Reportedly Selling His Share in the Barclays Center
Brooklyn native Jay Z is reportedly selling his share in the Barclays Center. According to Forbes, he is selling his stake in the Brooklyn-based arena he helped launch, just one year after its opening. Jay Z currently owns one-fifth of one percent of the venue. While that percentage may sound minuscule, it is reportedly worth $1.5 million. The Barclays Centers total value is around $741 million.
The Holy Grail rapper has to sell shares due to conflicts with his sports agency Roc Nation Sports. The same conflict resulted in the rapper having to give up his share of The New York Nets, the team he was instrumental in bringing to Brooklyn to play at Barclays. Jay Z sold his one-fifteenth of one percent stake (valued at $500,000) to the Nets head coach, Jason Kidd.
Jay Z might have to give up his share in Barclays and other ventures, but let's be real; who needs the Barclays Center or The Nets when youve got Beyoncé?