Mr. Ratner may have thought he was getting little more than a limited partner with a boldface name and a youthful following that could prove useful someday. But 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. The arena will contain a 40/40 Club, an iteration of his sports-bar-style nightclub chain. There will be a Rocawear store, selling his clothing line, on the arena’s exterior. Even the advertising agency used by the Nets, Translation, is half-owned by Mr. Carter.
Full Story: NY Times
During a media conference call on Tuesday, Argent said that Jay-Z influenced 2K Sports to strike a deal with USA Basketball and individually with Charles Barkley, who’s not part of the National Basketball Retired Players Association. “The Dream Team wasn’t going to happen this year for us without Jay’s involvement and assistance upon doing it,” Argent said, “and we’re obviously very happy that he did that.”
Full Story: ESPN
Some good articles to check out showing how Jay-Z’s influence is bigger than music.
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this guy make you want more out of life. Prime example of a true Hustla. From “BK to Brooklyn” from “Marcy to Barclays Center”
right he makes see that your dreams can happen hard work and time
love how they repeatedly mention how small his 1/5th of 1 percent minority stake is.
meaningless. ownership of an NBA basketball team is like a piece of art… rare & overtime increases in worth itself.
Jay doing what he’s suppose to be doing. Bruce Ratner and Prokarov put him on because they wanted to capitalize off of his name. I bet they thought he was gonna sit back and chill, but he’s out worked them. You can hate on a lot of things, but not hard work. I’m moving to Brooklyn in the fall and got my season tickets lined up.
That whole story about him selling his stake Rocawear for 200 million is a cover up. Jay-Z sold his stake for a bag of NZT.
This! I firmly believe Jay Z will be governor or at least mayor of new york in a few years
1 million dollars will only buy 1/15 of 1 percent of a team !!! damn the owners in the NBA are beyond loaded lol and that was for the New Jersey Nets a team that was in the tank. Can you imagine what speck of a percent a person would get trying to buy a piece or the Lakers, Bulls, Knicks etc for 1 million, I mean damn… money definitely doesn’t go as far as it used to.
What most celebrity owners get with their investment is just better access to players and team functions. They receive no revenue from the team in anyway. The scant 1/15 is worth around 200 thousand with the team but Jay-z has ran with that to help grow his brand and name recognition to create value when there wasn’t any true value and that’s what a hustler does. These Rappers like Jay, Diddy, 50, Baby are hustlers they came from nothing so they had to use every opportunity they had to make something from nothing. What needs to happen is for more brothers to actually join Oprah in the wealth department. Lastly I do believe Jay-z half a billie quote is way over exaggerated to since he was partners with 2 others when they sold rocawear clothing for the 204 million cash plus a maximal opportunity to receive 35 million in stock options if the company met certain goals but whatever he has is millions over me.
shout out to harry belefonte
At this pace, I agree; Jay-Z will be a governor of NY. #SAULTE that sh*t inspiring.
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