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."