By The Hip Hop Writer
Hip Hop Vibe Staff Writer
In 2003, Jay-Z announced he was hanging up his mic for good to focus on his new business ventures. Jay-Z rapped about the corporate life on his later songs, flaunting the life an executive lives. Among Jay-Z’s business properties was a stake in the New Jersey Nets and the 40/40 Club in Manhattan.
Throughout his run as part-owner of the Nets, Jay-Z made his intentions to build a state-of-the-art arena in Brooklyn and move the team there. Following several delays, the Nets eventually moved to Brooklyn. The Nets began a slow decline until relocating to Brooklyn and they are now contenders, but business has got in the way.
Surely, Jay-Z is happy with the success of the Nets, as they are poised to make the playoffs for the first time in six years. But, Jay-Z now finds sports management more lucrative. To be an agent, Jay-Z has to give up the Nets and rumors said he would do so and Bloomberg TV has now confirmed it.
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