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JAY-Z OFFICIALLY NETS CO-OWNER: Retiring rapper approved by NBA board.
Posted on: August 13, 2004 08:49 MST
Filed under: Rap

jay-z

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.

Source: EURWeb
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