Despite what he may say, Jay Z is not part Owner of the Brooklyn Nets.
However, the way in which Jay Z moves around the Brooklyn Nets organization, you would think the man is the majority owner of the team, but in reality he is just an investor of the team tossing in a 1 million investment, which is chump change against $300 million, the reported value of the Brooklyn Nets.
Jay Z walks around with his Brooklyn Nets hat, gets permission to design the team’s logo but in reality, Jay Z has no weight in the decision-making process of the Brooklyn Nets and this little assignments he does could be the Nets way of making Jay Z feel included. There is a reason why billioaires are billionaires, they are brilliant people.
Here is what the New York Times report on Jay Z’s 1 million investment in the Nets, where things stand now and the rumored talks of him being part owner:
Jay-Z’s contributions have dwarfed the $1 million he invested nine years ago. His influence on the project has been wildly disproportionate to his ownership stake — a scant one-fifteenth of one percent of the team. And so is the money he stands to make from it.
Basically as you can see, Jay Z got screwed and lost much of his investment in the Nets due to a billionaires with deeper pockets than his coming togther with a plan to better themselves. When Russian billionaire, Mikhail D. Prokhorov bought 80 percent of the Nets in 2009 for $260 million this is said to be where Jay Z’s financial investment began to dwindle. So now we know, its what we always suspected, Jay Z is a liar.
