Since Jason Kidd’s retirement from the NBA in early June, he quickly became the new head coach of the Brooklyn Nets, and now in addition to being the head coach, Kidd is a minority owner of the team after buying Jay-Z’s 0.067 percent stake, according to sources.
Kidd’s stake is worth about $500,000, which comes out to 1/15th of one percent ownership. Not a lot, but Kidd appears to be in for the long haul with the Nets, unless out of the blue he decides to become a sports agent.
Rap mogul Jay-Z was forced to sell his stake in the team after he created his own sports agency Roc Nation Sports. Jay-Z currently represents players such as Kevin Durant, Geno Smith, Victor Cruz, and Robinson Cano.
There is however a potential problem with the coach also being a minority owner. Jason Kidd has never been an NBA coach, and there’s no guarantee he will be successful, although it would be pretty hard to screw up with this roster.
But if Kidd and the Nets do struggle, and the team wants to move on from him, how in the world does that end well?
You have a minority owner with power and an ego, who clearly will have a say in all aspects of the team, and if Kidd gets fired, then he’s still going to be an owner?
There are a lot of layers to Kidd buying Jay-Z’s stake, and Kidd’s had success every where he’s been, so hopefully his transition to owner/coach goes smoothly and he has success, otherwise this could get ugly fast.