The head of the Major League Baseball Players Association, the players union, said Wednesday that the Nets minority stakeholder may have to sell his interest in the team to be an agent for MLB players. Previously, it was believed that Jay-Z would only have to divest his Nets stake if he wanted to rep NBA players.
Adrian Wojnarowski reported Tuesday that Jay-Z has begun the process of selling his stake.
Liz Mullen of Sports Business Journal reports that Matthew Weiner, the executive director of the MLBPA, hinted strongly that if Jay-Z wants permanent certification, he will have to dump his 0.067 percent stake in the Nets.
"We look forward to getting the application from all the Roc Nation individuals," said Weiner. "We will examine if there are conflict or ownership issues that need to be addressed, including whether Mr. Carter is going to divest an interest in the Nets."
Just as in the NBA, the players union certifies and regulates player agents.
- Weiner: MLBPA To Consider Granting Jay-Z Permanent Certification - Liz Mullen - Sports Business Daily
With Jay-Z selling his stake in the team, Nets losing a minority owner but a big presence - AP