When the news broke Monday that Jay-Z had been cleared by the National Basketball Players Association to represent NBA players as an agent, it meant his sale of his share in the Nets to the team’s coach, Jason Kidd, also became official.
Kidd was asked about the sale Tuesday afternoon during his opening media session prior to the start of training camp next week, and spoke about the motives behind his decision to buy into the franchise.
“I think you look at the product of where the brand is going, and I’m a big believer that it’s going in the right direction,” Kidd said. “So, like any investment, you tend to do with a company that is going in the right direction, and I feel like this is a company that is going in the right direction.”
A source told The Post that Kidd also was receiving a slice of ownership in Barclays Center as part of the deal. The Post’s Page Six was first to report the news of Kidd purchasing at least part of Jay-Z’s share in the team earlier this summer.