American hip-hop mogul Jay Z has been forced to sell his stake in the Brooklyn Nets basketball team and its home, the recently opened Barclays Center due to a conflict of interest. Earlier this year, the famed rapper announced that he would be getting involved in sports management with the creation of Roc Nation Sports, a new division he set up with Juan Perez, the president of Jay Z’s entertainment company Roc Nation, and the Creative Artists Agency.
Roc Nation Sports already boasts a roster of high profile clients including New York Giants’ wide receiver Victor Cruz, New York Yankees’ second baseman Robinson Cano, and female basketball player Skylar Diggins who was drafted this year to the Tulsa Shock.
Forbes reports that Jay Z has already began selling his stake in the team. Brooklyn Nets’ head coach Jason Kidd will be paying $500,000 for Jay Z’s one-fifteenth of one percent ownership of the team. As for the Barclays Center, Jay Z’s owns just under one fifth of one percent, worth around $1.5 million. He may be forced to unload some of his prized possessions but least he still has Beyonce…