Posted on: August 13, 2004 08:49 MST
Filed under: Rap
The vote was unanimous. On Wednesday, Brooklyn-born rapper Jay-Z became an official owner of the New Jersey Nets following approval by the NBA Board of Governors.
Jigga is a minority investor in an ownership group headed by real estate developer Bruce Ratner that will reportedly pay an estimated $300 million for the team.
Ratner hopes to move the team from the Garden State to Brooklyn, and into a new 19,000-seat arena.
Plans for the venue and an office and residential complex have met mixed reaction from area residents.
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