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Is Jay-Z stock sale close?

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Roc Nation Sports

The NBA disclosed Wednesday that as of this week, Jay-Z is now licensed to work as an NBA agent. But as Darren Rovell reports, "the hip-hop mogul had not sold his small ownership share (less than 1 percent) of the Brooklyn Nets."

No one is saying how Jay-Z can rep NBA players while still technically an owner, but Rovell said that "industry speculation" is that Roc Nation might be able to sign players "as long as he agrees to pass off his share of the Nets in the near future."

Jay-Z's share, described as both 1/5th and 1/15th of one percent, has been on sale for more than a month. Word is that he would prefer to sell to someone close to him, but the league will no doubt want to make sure that any sale is an arm's length transaction, that is, a deal without any conflicts of interest now or in the future.

The decision by the NBA would seem to clear the way for Jay-Z to represent Kevin Durant. An agreement with Durant would give Roc Nation high profile clients in three major sports: Victor Cruz and Geno Smith in football, Robinson Cano in baseball and Durant. Jay-Z is also reportedly interested in repping Seth Jones, Popeye's son, who is likely the top pick in the NHL Draft on June 30.