No one can question Jay-Z’s star power and marketability.
The rapper, born Shawn Corey Carter, has amassed a wealth of over $450 million, spearheaded a profitable clothing line in Roca Wear and sold over 50 million albums worldwide. Not to mention, he has the “hottest chick in the game wearing his chain.”
Jay-Z has become a listening fixture in many people’s headsets. His posters are plastered on the walls of many youths’ bedrooms.
But Bruce Ratner, an American real estate developer, may be an even better businessman. Ratner owns a minority stake in the Nets franchise and brought in Mr. Shawn Carter to join his investment team.
Jay-Z invested $1 million nine years ago and owns one-fifteenth of one percent of the team, according to The New York Times. One-fifteenth of one percent amounts to barely .07 percent ownership of the team.
Carter’s ownership stake was reduced from one-third of a percent after Russian Billionaire Mikhail Prokhorov purchased an 80 percent stake in the team for $200 million.
“In the two and a half years since groundbreaking, as taxi-roof advertisements promised ‘All access to Jay-Z,’ and sponsorship salesperson trumpeted how “hip and cool” he and his wife, Beyoncé, would make the arena, he and the Nets have effectively written a new playbook for how to deploy a strategic celebrity investor,” The New York Times wrote.
Despite his miniscule stake, Jay-Z will enjoy a few perks for his association with the Nets organization. Carter will reportedly have free use one of 11 “Vault” suites. Additionally, the will contain a 40/40 Club and Rocawear store.
On Kanye West’s “Cold,” the Chicago rapper dissed current girlfriend Kim Kardashian’s ex-husband Kris Humphries by rapping, “Lucky, I ain’t had Jay drop him from the team.”
Kris Humphries signed a $24 million deal with Brooklyn Nets. It is also highly unlikely Mr. Carter has any pull to have a player dropped from the team.
Though Jay-Z barely owns a percentage of the franchise, he will become a huge financial asset to selling tickets to the Net’s games. Jay-Z will perform eight sold-out shows to start off the upcoming season.
But the question that remains is what Jay-Z would stand to gain from his investment. Major investors in the team will earn revenue from ticket sales and team merchandise.
Are the Brooklyn Nets using Jay-Z? Sound off below.
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