Jay-Z to sell his stake of the Brooklyn Nets

04/10/2013 9:32 AM ET
By Matt Hughes

Jay-Z played a big role in re-branding the Brooklyn Nets.(AP)
Jay-Z has begun the process of selling his stake of the Brooklyn Nets, opening the door for the entertainment mogul to become a player agent in the NBA.

As first reported by Yahoo Sports, Jay-Z is looking to divest his minority share -- less than one percent -- in the team he helped bring to Brooklyn. The rapper and media star has been the public face of the Nets during their high-profile re-branding. 

NBA rules mandate that individuals with ownership stakes in NBA teams cannot be affiliated with player representation companies. The timing of the divestiture process is uncertain but is expected to be completed in time for the NBA free agency period in June. 

Roc Nation, Jay-Z's marketing company, announced a partnership with Creative Artists Agency to launch a sports representation firm last week. The new venture sent shock waves through the industry when it signed New York Yankees second baseman Robinson Cano as its first client. 

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