Jason Kidd Makes His Latest Power Move, Buys Part of the Brooklyn Nets
He just retired, became a coach and one day will join the Basketball Hall of Fame, but you can give Jason Kidd another title now, too.
Kidd, who just retired from the NBA over the offseason and became the newest head coach of the Brooklyn Nets, may have insured his long-term job security by reportedly purchasing a small percentage of the franchise.
ESPN reported Kidd made negotiations with part-owner and rap mogul Jay Z to buy his share of the team. Jay Z has been vested in the team over the last several years, but since he started his new agency business, he will focus elsewhere since agents are not allowed to have ownership in franchises. But we all know Jay Z will still rock the mic, too.
Kidd is the first coach/part owner to wear the two hats since Pat Riley with the Miami Heat. The deal consists of Kidd spending $500,000 to buy one-sixth of 1 percent of the team.