Jay-Z Explains Why He Gave Up The Brooklyn Nets

04/22/2013
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(Radio.com) Jay-Z released a statement Friday (April 19) detailing his departure from the Brooklyn Nets as co-owner, in favor of developing his own sports management brand, Roc Nation Sports.

He explained in the post that NBA rules require him to give up his involvement with the team in order to represent other basketball players and "for Roc Nation Sports to function at its full potential."

"Being a member of the Nets organization surpassed some of my greatest ambitions," he wrote on his Life And Times. "It was never about an investment; it was about the NETS and Brooklyn. My job as an owner is over but as a fan it has just begun. I'm a Brooklyn Net forever."

The new Roc Nation endeavor is a collaboration with CAA Sports, part of the Creative Arts Agency (CAA). Jay's statement revealed the details on Roc Nation Sports, which has already nabbed Yankees second baseman Robinson Cano. more on this story

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Copyright Radio.com/CBS Local - Excerpted here with permission.

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